Indian States Banking Barometer Series - Tamil Nadu - A Credit Centric Market: ICICI Securities
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ICICI Securities Report
We believe, along with pan-India banking trend analysis, regularly penning down bottoms-up analyses of state-specific trends would also be insightful.
We are therefore launching ‘Indian states banking barometer series’, which would help investors and corporates keep a close tab on the sector as well as bank-specific trends (credit, deposit market share) and positioning in a particular state (credit segment offering opportunities, who is dominant, credit quality behaviour, etc).
This maiden note in the series deep-dives into the Tamil Nadu market, which commands 9%/7% share in credit/deposits respectively.
The state has a few distinct characteristics:
Is more credit-centric and further skewed towards agri and specific industry segments; regional banks/HDFC Bank Ltd. are more prominent;
Deposit profile is granular, but the state is not a active deposit mobilisation market (except home players);
Regional banks dominate semi-urban markets; large banks focus on metros; Federal Bank Ltd./Bandhan Bank Ltd. are more active in urban markets.
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