• Credit growth guidance: Full-year loan growth is projected at 14% to 15%, guided by an estimated nominal GDP growth rate of 12% plus an additional 2% to 3%.
• Deposit growth dynamics: SBI is utilizing roughly ₹4 lakh crore in excess SLR to fund credit expansion rather than aggressively pricing deposits, with overall deposit growth tracking at 10.6% to 11% YoY.
• Credit-deposit ratio: Although 80% serves as an outer potential limit, the bank expects to maintain a modest CD ratio in the 74% to 76% range while balancing growth, profitability, and asset quality.
• Foreign currency inflows: After raising around $6 billion via FCNR(B) and $1 billion through overseas borrowings, SBI expects total inflows to reach approximately $10 billion before September, with minimal impact on net interest margins.
• Credit cost outlook: Management maintained its full-year guidance to keep credit costs below 50 basis points, supported by lower quarterly slippages and reduced provisioning.