SBI ready to meet credit growth spike, expects loan book to grow 9% in FY22

Khara said FY22 had begun with an unexpected second wave of Covid-19 infections

Being “cautiously optimistic” about its prospects, State Bank of India, the country’s largest lender, expects its loan book to grow 9 per cent in FY22 and is intensifying efforts in recovering stressed assets.

Notwithstanding the second wave of Covid-19, the Indian economy, through its resilience, is poised for a recovery in FY22.

“I am cautiously optimistic that the performance trajectory of FY21 will continue in FY22 as well,” said Chairman Dinesh Khara in his address to the shareholders at the virtual annual general meeting. The bank’s loan book had grown 4.8 per cent in FY21.

Khara said FY22 had begun with an unexpected