Despite a slower rise in the home loan market for the fiscal just over, the bigger banks have managed to outdo their smaller counterparts.
The top 10 banks of the country posted a 13.8% increase in their home loan portfolio for FY 2009-10 as against the industry rise of 8%. The biggest lender of the country, State Bank of India posted an increase of 32% and reached the top of all home loan lenders.
The top 10 banks cornered 65% of the total outstanding housing loans in 2009-10, up from 61.5% previous year.
SBI’s involvement in incremental home lending was valued at 78% for the year 2009-10. Teaser loan rates for the bank helped in the quicker increase of its home loan portfolio.
ICICI Bank was the 2nd in this race. The bank reported a fall by 17% on its home loan book. Loans for HDFC Bank and Axis Bank were up by 74% and 41% respectively.
Bank of India was the sole major public sector bank to post a single digit increase of 7%.
From the NBFCs, HDFC and LIC Housing Finance saw a growth by 15% and 38% respectively.