State Bank of India (SBI) has put a new feather in its cap by crossing the Rs 5-trillion mark in personal banking advances minus high-value home loans.

The country’s largest bank hit the new milestone on 30 November. The last Rs 1 trillion of personal loans came in just 12 months, after taking a few tactical measures to speed up the growth. The previous addition of Rs 1 trillion was achieved in 15 months.

SBI crossed the first Rs 1 trillion mark in January 2015 while the next Rs 1 trillion took three years. The bank crossed the Rs 3-trillion mark in over 30 months when Covid-19 was at its peak.  

Said SBI chairman Dinesh Khara, “A series of tactical measures and digital initiatives undertaken over the past few years played a crucial role in our journey to the Rs 5-trillion mark under personal banking advances (other than Housing)."

Khara said the  figure of Rs 5 trillion excludes housing loans, where the bank has the numero uno position in the market.

SBI's personal banking advances mainly comprise personal loans, pension loans, auto loans, education loans, gold loans and other personal loan products.

SBI has 22,309 branches, over 65,000 automated teller machines and also 66,757 business correspondent outlets, which drive the entire retail banking franchise.