THE STATE OF PLAY: INDIA'S BANKS IN 2012

摘要

The biggest bank in India by every measure and four times larger in asset terms than its nearest rival, the 62% government-owned State Bank of India (SBI) is the giant of Indian banking and is targeting 20% year-on-year growth in its core business - credits and deposits - during the current 2012-13 financial year. The pace of credit expansion moderated in 2011-12 to 16% from 20.3% the year before, while deposits also decelerated to 14% growth from 16% in 2010-11, but chairman Pratip Chaudhuri is bullish about the banking prospects as India's strong savings rate of 32% and low banking penetration (only 40% of the population is banked, and the country has a low credit-to-gross domestic product [GDP] ratio of 60%) allows plenty of room to grow.