State Bank of India, during the last one year has witnessed a considerable increase in its retail loan portfolio. Between July 2008 and June 2009 the total retail advances increased by 22.52 per cent which amounted to Rs 112,862 crore.
There has been fastest growth on a year-on-year basis in the education loan segment among the various retail loan portfolios, while auto loans increased by 29.05 per cent and home loan registered a growth of 24.00 per cent on a year-on-year basis.
Bank education loan portfolio registered a growth of Rs 7,162 crore by the end of 2009 as against Rs 5,099 crore in the same period previous year which means a 40% increase in the portfolio.
In India SBI is the largest education loan provider and by the end of March 2009, it had approximately disbursed 24% of the total education loan distributed by all public sector banks put together.
The figures were made public in quarterly report of the bank released on Thursday.
In case of auto loan portfolio by June 30, 2009 the bank had distributed loans amounting to Rs 10,399 crore as against total auto loans of Rs 8,059 crore in the previous year, thus attaining the growth of 29.05 per cent, the highest among all banks.
To increase its market share in the auto loan portfolio SBI this year had launched a special auto loan scheme called SBI Ezee car loans, under which the bank offered 8% per interest for the first year.
While the home loan portfolio registered a growth of 24.00 per cent on a year-on-year basis. The bank by June 30, 2009 had distributed home loan amounting to Rs 57,513 crore as comparison to Rs 46,370 crore previous year.
Earlier this year SBI had introduced a special home loan scheme under which it offered loans at 8% in the first year.
Thus SBI maintains that it has been the fastest growing home loan provider during the first quarter of the present financial year.
Personal loans also come under retail loans but bank did not provide separate figures for this segment.
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