Calcutta, March 5: The State Bank of India (SBI) today said its aggregate business in the Bengal circle has jumped 15 per cent and till February it was at Rs 1.13 trillion.
It is hoping to close the year with a total business of Rs 1.15 trillion against Rs 1 trillion last year.
The bank said while non performing assets (NPA) were a concern, it was taking proactive steps to help encourage small and medium enterprises to restructure their accounts.
“This year, we have had a good growth in deposits but not so good growth in loans and advances. While deposits have grown around 16-18 per cent against a 25 per cent target, advances grew around 10 per cent till February.
“It is nowhere near our target. It is a function of the economy. There has been a muted response to industrial activity and going forward, we expect investments to come in the small and medium sector. We are looking at good bankable projects,” said Sunil Srivastava, chief general manager, SBI.
“NPA is an area of concern but the worst is behind us. Gradually things are correcting and there has been no major increase in the last three months. It has been flat. We are actively restructuring accounts of the SMEs. We believe that once the productive capacity is built, it will not go to waste,” Srivastava said.