SBI is seeing a pickup in credit growth, especially on the retail side, with the public sector bank seeing a credit growth of 8-10 percent, said Ashwani Bhatia, Managing Director of the bank on Tuesday.

“October, November, December were good months. Credit growth did pick up and more so on the retail side. In the first four-five months of the financial year, we had an increase in deposits and then in the later part of the fiscal, we have seen some growth in advances also showing up. So, in the second half, the growth on the credit side will be there and we think that our growth should be between 8-10 percent,” he said in an interview with CNBC-TV18.

Bhatia said that DHFL and Bhushan Power and Steel are in the last leg of resolutions.

“In case of Bhushan Power, we expect recovery will happen in first half of 2021.”

He also said that the banks are expected to get around Rs 20,000 crore from Bhushan Power. However, SBI may get 15-20 percent of money that is received from the bidder.

On exposure in real estate, Bhatia said, “Fortunately SBI does not have much exposure on the real estate side. Our book, the housing book, is predominantly retail housing loans average ticket size of between Rs 32-35 lakh crore. So we don’t think on the retail side any issues will be there.”

Bhatia also said that the bank has an exposure in SREI Infra and the account is currently in NCLT.

On net interest margins, he said that domestic net interest margin will be around 3.3 percent and global over 3 percent.

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(Edited by : Ajay Vaishnav)