SBI confident of achieving 14-16% credit growth, 10% deposit growth in FY25

total deposits increased by 9.81 percent year-on-year in Q3FY25

India’s largest lender, State Bank of India (SBI), reported a strong performance in Q3 FY25, driven by healthy profit growth and stable asset quality. With one quarter remaining in the fiscal year, the bank remains confident about meeting its credit and deposit growth targets.

"On credit growth, our guidance remains at 14-16 percent and we are confident in reaching this. Deposit growth guidance was initially 11-12 percent but was revised to 10 percent, which we are close to achieving. As of now, we have crossed Rs 52 lakh crore in deposits and remain committed to our 14-16 percent credit growth and 10 percent deposit growth targets," the management said in their analyst conference call.

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In terms of corporate credit outlook, the management said that they have a strong pipeline worth Rs 4.8 lakh crore, of which Rs 2.2 lakh crore in sanctioned loans across 800 proposals and Rs 2.61 lakh crore is under process. "Last year, the final quarter saw strong growth, and this year, we have focused on continuous disbursements, ensuring full interest income benefits," the management added.

SBI's overall credit growth stood at 13.49 percent in Q3FY25 compared to the same period last year, while domestic advances rose 14.06 percent. Lending to small and medium enterprises saw an 18.7 percent increase, agriculture credit grew by 15.31 percent, corporate loans expanded by 14.86 percent, and retail credit climbed 11.65 percent.

Meanwhile, total deposits increased by 9.81 percent year-on-year in Q3FY25, reaching Rs 52.3 lakh crore compared to Rs 47.62 lakh crore in the previous year.