MUMBAI: Personal banking advances have surpassed Rs 5 billion at State Bank of India (SBI). In just one year, SBI added the final Rs 1 lakh crore.
Apart from mortgages, the bank's loan portfolio includes auto loans, education loans, gold loans, and other products. The bank announced in October that it had surpassed Rs 6 lakh crore in home loan portfolio.
“Our journey to the Rs 5-crore mark under personal banking advances (other than housing) played a crucial role in a series of tactical measures and digital initiatives that we took over the past few years. Dinesh Khara, chairman of SBI, stated, "We are committed to making banking a delightful experience for our customers." SBI's own advances had crossed the Rs 1-lakh-crore mark in January 2015.