SBI's new chief says top priority to maintain loan book quality

MUMBAI (Reuters) - India's largest lender, the newly appointed chairman of the State Bank of India, said his focus in his acquisition will be on maintaining the quality of the loan book while ensuring that provisioning requirements are met.
At a time when the Indian banking system is ravaged by the pandemic, SBI sees credit growth of around 6% to 7%, while business for Dinesh Kumar Khara bank is "returning 70% to 80% to pre-COVID-19 levels" . Chairman, SBI said in a press conference after taking the lead on Wednesday.
Prior to taking over as chairman, Khara was the bank's managing director and responsible for overseeing SBI's global markets and subsidiaries.
Scroll to continue with the content
Wild bull
How he traded $ 2.8 million in stocks part-time at home
Kyle Dennis took a leap of faith and decided to invest his $ 15,000 savings in the stock market - $ 2.8 million later, he owes his success to these strategies
Khara was appointed chairman for a three-year term.
While concerns about SBI remain in certain segments due to the economic disruption caused by the pandemic, the stress in the credit books overall is still nothing to worry about, Khara added.
The new boss has also ruled out any immediate plans to monetize his subsidiaries in the near term as the market remains subdued.
SBI is also "very seriously" considering options to enter the country's digital payments ecosystem as a primary stakeholder. The lender, along with other stakeholders, can apply to the central bank for a license to set up a payment company to operate digital payment networks across the country.

(Reporting by Nupur Anand; Editing by Chizu Nomiyama)
Mention your own website in this post for Advertisement

Last News

Camille Kostek on Joining ‘Wipeout’ and Boyfriend Rob Gronkowski's Recent Super Bowl Win (Exclusive)

Cynthia Bailey & Daughter Noelle Robinson Stun in Their Latest Magazine Cover Together

Coronavirus pandemic hits Japan’s feared Yakuza in the pocket

Teachers are hitting a wall more than a year into the pandemic. Some have decided to walk away from the profession amid a growing educator shortage in the US.

White House Gives Sen. John Cornyn A Lesson In Presidential Behavior

Newt Gingrich: This is a very dangerous time for the country