SBI to tap avenues to raise CD ratio in West Bengal

The country’s leading commercial lender State Bank of India (SBI) would tap various opportunities to raise the credit-deposit (CD) ratio in West Bengal which was now as low as 45 per cent, a senior bank official said.

“The CD ratio of SBI in West Bengal is 45 per cent without taking the investments made in state government bonds, which is much low than the national average”, CGM of SBI (Bengal circle) Partha Pratim Sengupta said.

When asked whether lack of business in the state was responsible for the low credit offtake, Sengupta said “We will try to tap opportunities available to raise credit offtake”.

Talking about business performance in the last fiscal of the circle, he told reporters that retail and corporate deposits stood at Rs 1.61 lakh crore while advances were Rs 64,948 crore.

In the last fiscal, key parameters like expense ratio and transaction costs declined while other incomes increased. To promote affordable housing, the bank announced lowering of housing loan rates by 25 basis points from 8.60 per cent to 8.35 per cent.

For women, the rate now was 8.35 per cent and 8.40 per cent for others, he said. He said that the growth in home loan disbursements was the highest in the circle of SBI.