Maintaining its leadership in the home loan segment intact, the
State Bank of India (SBI) has reached another landmark by crossing the Rs5 trillion (5 Lakh crore) mark in its home loan business. The bank has set its sight on achieving a home loan AUM of Rs7 trillion by FY24.
The Real Estate and Housing Business unit of SBI has grown 5 times in the last 10 years with an AUM of Rs89000cr in 2011 to Rs5 trillion 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.
SBI witnessed spectacular growth in Home loans in December 2020 with the highest sourcing, sanctions, disbursements, and growth that the bank had ever registered. The Bank has also launched a new facility for new home loan customers who can get all information on home loans by giving a missed call on 7208933140.
Dinesh Khara, Chairman, SBI said, “It is a momentous achievement for State Bank of India. This extraordinary feat is a testament to customers’ continuous trust in the bank. We feel that combining technology with personalized service is the key in the current scenario. The bank is also working on various digital initiatives to improve the efficiencies in home loan delivery including a unique integrated platform Retail Loan Management System (RLMS) which will provide an end-to-end digital solution.
We are also happy to express that SBI has become the market leader in home loans by adopting a focused approach and acknowledging it as a national priority. We have always treated home loans as a growth driver for the nation and not just as mere transactions. We, at SBI, will continue focusing on enhancing customer delight that will in-turn enable the bank to scale newer heights.”
State Bank of India ended at Rs390.55 per piece down by Rs4.15 or 1.05% on the BSE.