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Indian States Banking Barometer Series - Maharashtra, A Credit Dominated Market: ICICI Securities

Indian States Banking Barometer Series - Maharashtra - A Credit Dominated Market: ICICI Securities

A stack of Indian one-hundred rupee banknotes are arranged for a photograph at a bank in India. (Photographer: Dhiraj Singh/Bloomberg)
A stack of Indian one-hundred rupee banknotes are arranged for a photograph at a bank in India. (Photographer: Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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:

  1. actively banked market with state credit to gross domestic product at ~84% and credit/deposit ratio at 81%.

  2. 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).

  3. metro market dominates with 89% share of total state credit.

  4. 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.

Click on the attachment to read the full report:

ICICI Securities States Banking Barometer Maharashtra.pdf

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