SBI home loan portfolio in Karnataka crosses Rs.14,800 cr

Bangalore, April 18, 2014 – 

State Bank of India has achieved 22.38 per cent growth in home loan portfolio at Rs.2,570 crore during the financial year 2013-14 compared with Rs.2,100 crore last fiscal (2012-13).

SBI’s total home loan portfolio in the country is around Rs.1.40 lakh crore and Bangalore’s share is 10 per cent. The State capital, Bangalore, has been consistently contributing 75 to 80 per cent for the last decade.

“The bank’s home loan portfolio in Karnataka has crossed over Rs.14,800 crore and Bangalore Metro in particular has contributed Rs.10,865 crore,” said Ashwini Mehra, Chief General Manager, SBI-Karnataka.

“Of the total growth, 10 to 15 per cent has come from takeover of home loans from other banks,” he added. The bank has eight dedicated centralised loan processing cells for expeditious handling of loans, and of these, four are located in Bangalore city.

“We have clocked month-on-month clearance and disbursals between RS.250-300 crore,” said Deepankar Bose, general manager network-I, SBI.

According to Mehra, “The bank has got a good share of the 870 projects approved in the state last year. “The average ticket size of the bank has also gone up substantially in the last three years to Rs.38 lakh from Rs.23 lakh level.”

SBI and the Confederation of Real Estate Developers’ Association of India (Credai) for the first time have come forward to hold state-wide two-day ‘Credai-SBI Realty Expo-2014’ on April 26 and 27 at SBI’s local heal office, St Marks Road in Bangalore. According to Mehra, about 100 builders of whom 30 from small cities and the balance from Bangalore are taking part in the expo. SBI Chairman Arundhati Bhattacharya is expected to inaugurate it.

“It is an encouraging sign that SBI has provided a platform for builders and developers from small cities to display their products and offering in Bangalore, we welcome the initiative,” said K Sriram, CMD of Mysore Enclave and Secretary, Credai-Karnataka.

“In Karnataka, other than Bangalore, cities like Mysore, Mangalore, Hubli and Gulbarga are witnessing good amount of property development. But it is still Bangalore-centric. The state government should address this lopsided development at the earliest,” he added.