Car loans, Housing loans, Agri loans and Infrastructure lending have helped State Bank of Travancore to achieve a credit growth of over 13 percent as compared to the previous year. News reports have suggested that the Bank expects to end this financial year with a healthy credit growth of 20%.
Based out of Kerala, the company has most of its lending activities outside Kerala especially for the IT sector. It is ready to lend to IT operation s anywhere in the country, its General Manager (Credit) Mr. R.P. Baijal has told business newspapers.
Tourism, Medicine and Educational infrastructure seem to be the driving forces in the coming months for credit demand along with a healthy demand from the housing sector too. There is a lot of interest in Medical tourism which could boost the industry and also boost credit demand.
The industry feels that the off-take season for credit growth has begun and that it will run for the next six months giving positive growth the Credit industry in the coming days