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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.
SBI projects Rs 7 lakh crore lending in the home loan segment by FY 2024 freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
SBI achieves Rs 5 lakh crore in home loan business ANI | Updated: Feb 10, 2021 16:37 IST
Mumbai (Maharashtra) [India], February 10 (ANI): Maintaining its leadership in the home loan segment intact, State Bank of India (SBI) has crossed the Rs 5 lakh crore mark.
The bank has set its sight on achieving a home loan AUM (assets under management) of Rs 7 lakh crore by FY 2024.
The real estate and housing business unit (REBHU) of SBI has grown five times in the last 10 years with an AUM of Rs 89,000 crore in 2011 to Rs 5 lakh crore in 2021.
Despite a massive setback to the real estate sector triggered by pandemic-induced lockdown, the REHBU vertical registered unparalleled growth in the home loan business.