India’s largest lender, State Bank of India (SBI), is aiming to close the current fiscal with ₹8,500 crore of home loan book growth in Tamil Nadu and Puducherry, according to a senior official of the public sector lender.
“We grew our home loan book by ₹5,000 crore in FY21, ₹6,000 crore in FY22 and, this year (FY23), we are expecting to hit around ₹8,500 crore,” said R Radhakrishna, Chief General Manager, SBI, Chennai circle.
He was speaking at a press conference organised by The Confederation of Real Estate Developers’ Associations of India (CREDAI), Chennai on Tuesday.
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SBI’s home loan book for Tamil Nadu and Puducherry grew by ₹5,320 crore during April-December 2022. As of January, the loan book size stands at ₹58,000 crore and the public sector lender is looking to add ₹3,300 crore before the end of FY23.
Radhakrishna said Tamil Nadu and Puducherry is the third biggest home loan market for SBI in terms of outstanding loans, after Karnataka and Maharashtra.
At a pan-India level, the lender crossed the milestone of ₹6-lakh crore in the home loan portfolio, accounting for the single biggest segment of the total advances of the bank.
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