Banking Sector - Credit Growth Supported By MSME, Housing, Vehicle Businesses: IDBI Capital
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IDBI Capital Report
Credit growth in May month seen slight uptick at 5.9% YoY from 5.7% YoY growth in April month (6.1% in May’20), led by services credit and industry credit growth.
Agriculture credit growth continues to decline to 10.3% YoY vs 11.3% YoY in April. Industry portfolio turned positive and continues to grow in May month and registered growth of 0.8%. This was led by medium industry which registered 45.8% YoY growth vs 43.8% YoY growth in April and continues to show improvement as risk-averse banks lend under credit guarantee scheme to MSME borrowers.
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