SBBJ aims to touch R1.5 lakh crore business by ’13-end
MUMBAI: State Bank of Bikaner and Jaipur, anassociate of the SBI, is targeting over 20 per cent jump in its overall size in the next 12 months, and hoping to touch R1,50,000 crore mark on balance-sheet by December 2013, a top official said.
“Our balance sheet was at R 1,23,000 crore as of December 31, 2012, and we are aiming to take it to R1,50,000 crore by the end of 2013 December," State Bank of Bikaner and Jaipur (SBBJ) Managing Director Shiva Kumar told PTI over phone.
The Jaipur-headquartered bank, one of the four associate banks yet to be merged with the parent State Bank of India, will end the fiscal 201213 with a balance sheet of Rs 1,30,000 crore, on account of loan pick-up and deposit mobilisations in the last quarter. "The first two quarters were not so good on credit growth and we ended up having more deposit growth than credit growth.
But the things have been improving in the last (third) quarter onwards," he said.
The increase has taken bank's advances growth to 16.5 per cent as of December 31, on par with the deposit growth, Kumar said, sounding confident that the bank will meet its targeted 17 per cent advances growth for the fiscal.