Pratip Chaudhuri, the Chairman of State Bank of India (SBI), India's largest public sector lender, has said that the bank is likely to grow at a faster rate than the average industry in the coming future.

Mr. Chaudhuri said that the banking sector is likely to grow well in the country due to the fast that Indians make considerable savings. He said that the country's GDP is about Rs 80 lakh crore and 30 of this or about Rs 24 lakh crore is being saved by the people each year. This presents enormous opportunity for the banks in the country.

He said that the SBI is closer to the Indian people and they have faith in the system. Over the issue of negative outlook rating by global rating agencies, he said that the ratings agencies have tendency to point out downsides and pitfalls. He pointed out that each banks differ in their asset quality, profitability and net interest margins and thus can outperform or underperform others in the sector.

Mr. Chaudhuri also said that SBI has a presence all over the country and this will help it maintain growth and reach customers across various geographic areas, unlike some other public sector banks in the country.