The
country's largest home loan provider, State Bank of India (SBI) is
planning to rejig its loan portfolio with a smaller proportion of home
loans and higher contributions from small and medium enterprises (SME)
loans.
"Housing, currently accounting for 18 percent of our loan portfolio. It need not be so high. We look at rebalancing our loan portfolio with a higher contribution from the SME sector. Sector has suffered because of unfavorable prices and high interest rates. While home loan company will continue to grow, we would like to see a higher proportion of the SME sector loans, "said bank President, Pratip Chaudhuri.
The Bank recently reduced interest rates on car loans, SME loans and educational loans, leaving the home loan rate untouched. SME loans account for 12-14 percent of the bank's portfolio.
In the home loan company also, there is no chance of rate cut unless there is a reduction in cash reserve ratio (CRR) by the Reserve Bank of India (RBI), Chaudhuri said. SBI recently surpassed HDFC, the largest home loan provider with over Rs 1.00000 crore outstanding loans.
"Our home loan interest rate of 10.50 percent is already very low. A cut in interest rates on housing loans is only possible with a CRR cut. If there is a need for moderation of interest rates as CRR cut is the only painless way to do it," Chaudhuri said .
The Bank intends to approach credit rating agency Moody's Investors Service to revise its ratings, which were downgraded to "D +" from "C-', recently.
"Unlike at the time of the review of Moody's, we now have a higher cash and capital. When our financial results are audited by this week, we will approach them to take a relook at the ratings," he said.
Commenting on the capital requirement to meet Basel III standards, he said, "We hope to generate Rs 11000-15000 crore of profit in 2012-13. Government has allocated Rs 12,000 crore for capital in nationalized banks this year, and We hope to get a good share of this. That should be sufficient. In addition, if we need capital, we can look at opportunities as qualified institutional placement, follow-on public offering or a rights issue, "
The bank hopes to close the year 2012-13 with a surplus of Rs 11000-15000 crore against Rs 11,700 crore last year, and net non-performing assets (NPA) of 1.6 percent versus 1.8 percent.
Bank, which intends to come out with a $ 1 billion Medium Term Notes (MTN) issue soon, will use the proceeds to disbursal of its overseas branches.
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"Housing, currently accounting for 18 percent of our loan portfolio. It need not be so high. We look at rebalancing our loan portfolio with a higher contribution from the SME sector. Sector has suffered because of unfavorable prices and high interest rates. While home loan company will continue to grow, we would like to see a higher proportion of the SME sector loans, "said bank President, Pratip Chaudhuri.
The Bank recently reduced interest rates on car loans, SME loans and educational loans, leaving the home loan rate untouched. SME loans account for 12-14 percent of the bank's portfolio.
In the home loan company also, there is no chance of rate cut unless there is a reduction in cash reserve ratio (CRR) by the Reserve Bank of India (RBI), Chaudhuri said. SBI recently surpassed HDFC, the largest home loan provider with over Rs 1.00000 crore outstanding loans.
"Our home loan interest rate of 10.50 percent is already very low. A cut in interest rates on housing loans is only possible with a CRR cut. If there is a need for moderation of interest rates as CRR cut is the only painless way to do it," Chaudhuri said .
The Bank intends to approach credit rating agency Moody's Investors Service to revise its ratings, which were downgraded to "D +" from "C-', recently.
"Unlike at the time of the review of Moody's, we now have a higher cash and capital. When our financial results are audited by this week, we will approach them to take a relook at the ratings," he said.
Commenting on the capital requirement to meet Basel III standards, he said, "We hope to generate Rs 11000-15000 crore of profit in 2012-13. Government has allocated Rs 12,000 crore for capital in nationalized banks this year, and We hope to get a good share of this. That should be sufficient. In addition, if we need capital, we can look at opportunities as qualified institutional placement, follow-on public offering or a rights issue, "
The bank hopes to close the year 2012-13 with a surplus of Rs 11000-15000 crore against Rs 11,700 crore last year, and net non-performing assets (NPA) of 1.6 percent versus 1.8 percent.
Bank, which intends to come out with a $ 1 billion Medium Term Notes (MTN) issue soon, will use the proceeds to disbursal of its overseas branches.
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