SBI’s Household Loan Cross Rs 10 Lakh Crore Over 5 Years
Khera said SBI was the country's cheapest home loan provider with an NPA of less than 1 percent, even during COVID.
"We will get to the next Rs 5 trillion much faster than the 10 years it took us initially. We are targeting a (home loan) portfolio of Rs 7 lakh crore in three years and Rs 10 lakh crore in five years,” Khara said in a press conference.
Despite a massive setback to the real estate sector triggered by the pandemic-induced lockdown, the home loan vertical registered strong growth even in December 2020 with the highest sourcing, sanctions, disbursements, and growth. The bank is now targeting a home loan AUM of Rs 7 lakh crore by 2023-24.
SBI is extending builder loans and also approving their projects in anticipation that offtake will improve. When it comes to build...