State Bank of India has reported a net loss of Rs 2,416 crore this quarter. In an interview with CNBC-TV18, Rajnish Kumar, Chairman of State Bank of India spoke about the results and his outlook for the company.
FY18 is a unique year where State Bank has merged six entities, he said.
According to him, recognition of non-performing assets (NPAs) cannot be uniformly spread across all quarters.
Speaking on slippage number, he said that we will not see as big a slippage number as Rs 25,000 crore again. March quarter will see some more slippage recognition, he added.
Retail loan growth is strong and we have been able to maintain market share, said Kumar.
If the demand for credit continues to pick up, we expect 10 percent credit growth next year, he further mentioned.
Mutual funds, general insurance and SBI cards businesses are on the radar, would like to list them within next two years but timing is yet to be decided, he said.
On the home loan side, he said that January has been very good and we have done better than January 2017. This gives me confidence that as far as the retail segment is concerned, the bank will continue to do well.
Source:- https://goo.gl/EgUkhh
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