Indian States Banking Barometer Series - Maharashtra, A Credit Dominated Market: ICICI Securities
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ICICI Securities Report
In this series of Indian states banking barometer, we deep-dive into the leading and dominant Maharashtra market, which commands 26% / 20% share in bank credit, deposit, respectively.
Distinct characteristics of the state include:
actively banked market with state credit to gross domestic product at ~84% and credit/deposit ratio at 81%.
industry and financial institution credit constitutes majorly to the state credit led by public sector banks; private banks are dominant in retail loans (credit card in particular).
metro market dominates with 89% share of total state credit.
market is expanding beyond Mumbai city, which registered muted credit / deposit growth (FY16-June-21) of 1% / 4% respectively versus 10% plus growth in Mumbai suburbs, Pune, Thane and Nagpur.
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