INSUBCONTINENT EXCLUSIVE:
SBI's loans grew 5.7 per cent in fiscal 2021, compared with the estimate of seven per cent.Top lender State Bank of India sought to allay
concerns about its asset quality and forecast credit growth in low double digits for the full year, after reporting earnings that were well
above estimates for the final quarter of fiscal 2021
Most Indian banks have reported strong numbers for the March-quarter on a lower base and as lending picked up before the second coronavirus
year) if hopefully the second wave of COVID-19 is behind us by the close of this quarter," Chairman Dinesh Khara said on a post-earnings
They grew 5.6 per cent in the previous year
Siddharth Purohit, research analyst at SMC Institutional Equities, however, said it would be difficult to reach double-digit credit growth
India's top court in March lifted an interim stay that had prevented banks from recognising bad loans."Going forward we do not see any
concern on the asset quality front," Khara said, adding that the economy is expected to bounce back sooner than it did last year even as the
bank remains on a "wait-and-watch" mode
for a profit of Rs 61.47 crore, according to Refinitiv IBES data.
