1 week ago

SBI Home Loan Portfolio Nears ₹10 Lakh Crore Milestone

State Bank of India expects its home loan business to become worth ₹10 lakh crore soon.

Its chairman said this could happen during the current quarter.

The bank already had more than ₹9 lakh crore in home loans last financial year.

SBI says many customers choose it because they trust its paperwork and pricing.

The bank has more than 460 centres to help people apply for housing loans.

Its chairman said home loans also support many other businesses connected to construction and real estate.

SBI is exploring ways to sell groups of home loans to investors through securitisation.

It also expects to receive about USD 10 billion through deposits from non-resident Indians and foreign investors.

Key facts

Expected milestone: SBI expects its home loan portfolio to cross ₹10 lakh crore this quarter.
Previous portfolio: The bank surpassed ₹9 lakh crore in home loans during the previous financial year.
Market share: SBI has nearly 28% of India’s home loan segment.
Processing network: SBI operates more than 460 home loan processing centres across India.
Industry securitisation pool: The outstanding home-loan securitisation pool is more than ₹30 lakh crore, according to Setty.
Planned transaction: SBI aims to complete one home-loan securitisation transaction this year.
FCNR-B target: Setty expects SBI to garner about USD 10 billion from non-resident Indians and foreign investors.

freepressjournal.in · 1 week ago