BL :Kolkata, Sept. 13:2013
The project finance segment of State Bank India, the country’s largest lender, is witnessing a 10-12 per cent growth on a year-on-year basis.
According to P. K. Malhotra, Deputy Managing Director, SBI Project Finance, the bank has witnessed an increased outflow towards project finance.
More number of projects have also been sanctioned so far this year. The project finance unit accounts for nearly 10 per cent of SBI’s total loan book.
“Project sanctions are higher than last year,” Malhotra told newspersons on the sidelines of the ‘Banking Colloquium 2013’ organised by the Confederation of Indian Industry.
According to him, while others might stop lending because of the slowdown, SBI has not done so. This has led to growth in sanctions.
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