Banks Monthly Credit Update - Muted Growth, Limited Visibility Ahead: Prabhudas Lilladher
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Prabhudas Lilladher Report
Reserve Bank of India’s sectoral credit data trends remain subdued and steady at 5.5% YoY as evident from May 2021 data.
Year-to-date credit de-grew by 1.4%, although same period last year (peak of wave one) credit de-grew by 2% year-to-date-21.
Q1 is seasonally subdued and growth among segments are relatively unchanged with agri growing 10% YoY, industry flattish, services merely growing 2% YoY and retail credit holding up with 12% growth.
Amongst retail, housing has done well growing 10% YoY, while credit cards grew 12.5% YoY on base effect (down 8% month-on-month/10% year-to-date).
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