The year-on-year growth in credit till date has been over 25 per cent and this fiscal would see a growth of 19 per cent, SBI chairman A K Purwar said after launching SBI Life's unit linked insurance plan in Mumbai on Tuesday.
However, this fast pace (over 25 per cent) was not sustainable and it would moderate in the future. But this would mean slowdown in the economy, as growth would be on the back of a large base, he added.
On the bank's plans to grow through inorganic route (acquisitions) in the country and abroad, Purwar said "we are actively looking at acquiring bank in Asia and Africa".
The acquisition of bank in the country was a statement of intent that SBI was open to acquire a regional bank.
Referring to interest rates, he said they would remain stable in the short term. He, however did not elaborate on medium and long term trends.
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