SBI reduces home loan growth target
State Bank of India (SBI) has revealed that it has cut its annual home loan growth target by up to 10 per cent age points.
The biggest lender of the country has to revise their target due to sluggish growth in property market.
The bank cut its home loan rates on Wednesday by up to 0.60 per cent to accord the adjustment demanded by the market situation.
Bank management stated that earlier target was 25 per cent growth in its home loan book. However, due to constant drop in home registrations, they now expect that the home loan segment will grow by only 15-20 per cent
The management stressed that the bank has not lost its market share in the segment despite of the sluggish growth in the first half of 2012.
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