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Data● Neutral for Canara Bank
Indian banks see credit growth outpace deposits in second quarter
The brief
- In the second quarter, several banks saw credit growth outpace deposit growth
- Canara Bank’s credit growth was 19.4%
- Faster lending than deposits may pressure funding costs at Indian banks, including Canara Bank
- Canara Bank CEO estimates ₹450 crore from MDR on UPI
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Indian banks’ credit growth outpaces deposit growth
Several Indian banks reported credit growth outpacing deposit growth in the second quarter. Canara Bank reported domestic advances growth of 16.8% year-on-year and global business growth of 15.8%; a later report put its credit growth at 19.4%.
Thursday, 1 October
- Indian banks see credit growth outpace deposits in second quarter