Shiva Kumar, managing director of SBBJ, associate of SBI, said "as of now it (corporate credit) is dull and still does not show positive signs about growth". Bank had set 18% target for loan growth at beginning of year (April 2012).
Its loan book rose by about 14% to Rs 50,243 crore in 12 months ended September 2012. For the six of current financial year (upto September), its loan book expanded by just Rs 1,000 crore from Rs 49,244 crore at end of March 2012.
Bank will put emphasis on increasing the retail loans like vehicle and housing. This book is growing at 33%. Its share in total book is expected to move up to 30% by March 2013 from present 25%, Shiva Kumar said.
Its net profit rose by 51% in the second quarter ended September 2012 to Rs 169.21 crore from Rs 112.17 crore in July-September 2012. Its net interest income grew by 42.25% to Rs 679 crore.
Its net interest margins (NIMs) improved to 3.96% from 3.31% in Q2 of 2011-12.
Its stock, which is listed on Bombay Stock Exchange, is trading at 412.25 per share, up 2.51% over previous close.
It reported a 13.58% growth in deposits to Rs 64,829 crore. SBI’s associate bank shed bulk deposits and reduced there share in total deposits to 11%, he said.
Its gross non-performing assets stood at Rs 1,681 crore (3.29%) as against Rs 1,652 crore (3.70%) at end of September 2011. They declined from Rs 1,874 crore at end of June 2012.
Its capital adequacy ratio (Basel II) was 12.44% at end of September 2012.