Indian States Banking Barometer Series - West Bengal - A More Deposit-Centric Market: ICICI Securities
A man holds a two thousand Indian rupee banknote for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Indian States Banking Barometer Series - West Bengal - A More Deposit-Centric Market: ICICI Securities

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 West Bengal market, which commands 4%/6% share in credit/deposits, respectively.

Few distinct characteristics of the state:

  1. Not a credit-led market - state credit to gross domestic product at ~42-43% (versus 53% pan-India level) and sub-5% credit growth over the past five years.
  2. Micro and small and medium enterprise lending dominate with few private banks controlling the space.
  3. More deposit-centric market, reflected in mere 52% credit-deposit ratio (leading private banks have less than 80% and State Bank of India at 34%); public sector banks dominate deposit market, though they are losing market share.

Click on the attachment to read the full report:

ICICI Securities States Banking Barometer West Bengal.pdf

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