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Bank credit increased 7.9% year-over-year and increased 128 basis points year-over-year for the two weeks ended February 25, 2022, up from 6.6% in the same period last year (two weeks ended February 26, 2021), mainly driven by private loans, coupled with extended support under the Emergency Credit Line Guarantee Scheme. However, the credit growth rate remained at the same level as in the previous two weeks ending February 11, 2022.
Deposits amounted to Rs 162.2 lakh crore for the two weeks ended February 25, 2022, registering a slower growth rate of 8.6% year-on-year. Deposit growth ranged between 9.3-11.6% from April 2021 to January 2022, with the exception of the two weeks ending January 28, 2022, where it fell to 8.3%.
Meanwhile, in absolute terms, bank deposits have increased by Rs 12.8 lakh crore over the past twelve months and Rs 0.90 lakh crore over the past two weeks (reported date February 11, 2022).
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This post BFSI Update – Bank borrowing stabilizes, while deposit growth falls marginally: CareEdge
was original published at “https://www.bloombergquint.com/research-reports/bfsi-update-banking-credit-offtake-stabilises-while-deposit-growth-marginally-down-careedge”