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SBI’s deposits growth defies slowdown

SBI has been performing ‘well’ despite the global slowdown and has recorded Rs 1,000 crore deposit everyday in October-November period of the current fiscal, its Chairman O P Bhatt said on Saturday.

SBI was in fact growing at a faster pace than the entire banking sector of the country and had recruited 30,000 people during the last two years, he said inaugurating the 1,000th branch of the bank at Dhatkidih.

Bhatt said he was surprised at the high deposit figure. “No other bank has such a per-day record and the figure is increasing.”

SBI has 43 per cent market share among 200 banks in the country and the market cap of SBI recorded more than that of Citibank, he said.

Loan disbursement during the fiscal till December, too, registered an increase of two-and-a-half times over that of the corresponding period previous year.

SBI, he said, was the preferred bank for the people ranging from the agriculture sector, small and big industries and even self-help groups and for housing or personal loans.

“We are opening SBI branches everywhere to ensure services to people from all sections.”

The bank had altogether 11,000 ATMs, which was likely to cross the 15,000-mark by next month, he added.

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