Read more about SBI aims to double home loan portfolio in next 5 years to Rs 10 trillion on Business Standard. Aims to achieve Rs 7 trillion by FY24, currently has 34% market share in the segment
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Fivefold increase in 10 years! SBI home loan portfolio crosses Rs 5 trillion-mark
Keeping its leadership in the home loan segment intact, the State Bank of India (SBI) has reached another landmark by crossing the Rs 5 trillion (5 Lakh crore) mark in its home loan business. The bank has set its sight on achieving a target of Rs 7 trillion by FY 2024.
The Real Estate and Housing Business unit of SBI has grown 5 times in the last 10 years with assets under management of Rs 89,000 crore in 2011 to Rs 5 trillion in 2021, the bank said in a release.
With interest starting as low as 6.80% per annum, SBI commands a market share of 34% in the home loan segment, it added.
In a co-lending model, essentially two lenders come together to disburse loans.In November 2020, the Reserve Bank of India had allowed the co-lending scheme for banks and non-banking finance companies (NBFCs)
"We have crossed the Rs 5 lakh crore mark. This is a journey which we have covered in almost from 2011 to 2021. So in about 10 years time, we have built this book from about Rs 89,000 crore to Rs 5 lakh crore," the State Bank of India chairman Dinesh Khara said.