State Bank of India sees 14%-15% corporate credit growth in FY23: executive

'Sectors seeing a pickup range from telecom and power to roads, ports and airports, while lending to non-bank finance companies has also picked up strongly'

India's largest lender State Bank of India expects corporate loans to grow at a pace of 14% to 15% this financial year and at about 12% on average over the next two years, a top executive from the bank said on Wednesday.
 

Demand for corporate loans is being driven by improved capacity utilisation, higher working capital and to a small extent, by a shift in demand from bond markets to bank loans, SBI Managing Director Swaminathan Janakiraman said.
 

The bank has seen a 21% increase in corporate credit in the July-September quarter.
 

"Corporate credit picking up is a certainty, but