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Systematix Research Report
In August 2021, scheduled commercial banks’ non-food credit growth was nearly at a 15-months high of 6.7% YoY versus 5.5% in August 2020, while remaining largely flat on a month-on-month and FYTD22 basis.
Healthy growth in retail and agriculture continued to support overall credit growth on a YoY basis, while the industrials and services segments gradually picked pace.
All sectors contributed to non-food credit growth - retail/agri/services/industrials reported 12.1%/11.3%/3.5%/2.3% YoY growth, respectively.
On an incremental basis, non-food credit contracted after expanding for two consecutive months as agriculture and industrials sectors posted credit contraction of Rs 138 billion and Rs 53 billion respectively on a month-on-month basis; services and retail sectors witnessed an expansion of Rs 276 billion and Rs 352 billion, respectively.
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