SBI expects 10% credit growth in FY19, hopes to bounce back into profits

State Bank of India today said it has ‘set its house in order’ and the credit growth is expected to see 10 per cent growth by the end of the current fiscal.
Speaking at a press conference in Hyderabad, SBI Chairman Rajnish Kumar also said the bank is in the process of recruiting 8,000 people this year and hopes to also bounce back into profits from the current quarter as the major chunk of provisioning for bad loans was done in the first quarter.
He hoped that the headcount would be 2.60 lakh by the end of this fiscal, maintaining the same level as FY18.

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