Priority List announced by SBI’s new Chairman

By | March 15, 2011

According to a recent press release, Mr. Pratip Chaudhuri, SBI’s new chairman said that the bank will try to enlarge its market share without having any negative effects on the bank’s margins and profitability. He said that the bank has decided to reconsider its business areas where it has faced problems with the non-performing assets. The bank has also planned to increase its retail loan book.

Mr. Chaudhuri said that the bank has aimed to record a higher growth as the growth in loan and deposits have gone down in the year2010-11.He mentioned that the bank has decided to concentrate on term loans, for both corporate and retail. He also said that that the bank would try to focus more on long term credits rather than short term credits.

He added saying that the bank has decided to talk to the Reserve Bank of India regarding teaser loan (home loan) and that they were not interested in violating their regulations. He said that the bank can offer a provision of 0.4 % only and the two per cent instruction for provisioning is difficult.

He also said that the bank has grown out of lots of competition and is ready to open the banking sector to new players.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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