SBI eyes 20% growth via special branches

State Bank of India is targeting a 20 per cent growth in lending through its specialised commercial branches.

“These specialised branches provide services to only big corporate houses, with a turnover of over Rs 50 crore a year,” said AP Verma, deputy managing director, SBI, and group executive, SBI Mid Corporate Group.

The bank’s advances through the specialised branches stand at Rs 1,50,000 crore, about 25 per cent of the total advances, he added. SBI opened its 65th commercial branch here recently.

“This year we expect a 20 per cent growth in lending to major corporate companies. During the first half of the current fiscal, we achieved a growth of 17 per cent,” he said.

 

The bank plans to open 35 more such branches over the next two years acorss the country. About 6,500 corporate companies currently have accounts in its specialised commercial branches.