Page 6 - Credit Growth

Franklin Templeton planning to enter private credit industry in India

The firm will soon file with the Securities and Exchange Board of India for a license for a category II Alternative Investment Fund, which will allow it to begin preparing for the private credit fund

Indian banks to witness record profitability in FY24: SBICAPS report

It added that the repo rate is expected to remain at current levels until late in FY24

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

Yes Bank is targeting a credit growth of 15% to 20% for fiscal 2024

KarmaLife raises Rs 44 cr, startup aims to launch more products soon

KarmaLife on Thursday said it has raised Rs 44 crore in an extension to pre-series funding round led by Krishna Bhupal's family office and existing investors. The round saw participation from existing investors, including Artha Venture Fund, Net Graph Investments, Singularity Ventures, LogX Venture Partners, Amit Jain, Vikram Kailas, and Shaji Kumar Devakar, the company said in a statement on Thursday. Founded by Rohit Rathi, Naveen Budda, and Badal Malick in March 2020, KarmaLife operates in a business-to-business-to-consumer model and has partnered with over 50 organisations, which includes Flipkart, Elastic run, Uber, Porter, and Delhivery, among others, to give their employees an option to access their payout before payday. The credit solutions provider startup will use the capital for scaling, expanding into different geographies, launching more products, and spreading awareness about the product, the company founders said. It currently serves over 1,00,000 blue-collar workers

Bank of Baroda aims at 12-15% credit growth in FY23: Executive director

State-owned Bank of Baroda (BoB) on Monday said it expects 12-15 per cent credit growth during the current financial year. During the last financial the bank recorded a credit growth of 16 per cent. "We aim at credit growth of 12-15 per cent while deposits are expected to grow at 12-13 per cent," BoB executive director Lalit Tyagi said on the sidelines of 'Bank of Baroda Rashtrabhasha Samman' Awards 2023 here. The bank is using a digital platform for customer acquisition, he added. The award has been instituted to recognise and promote literary works in various Indian languages (included under the 8th Schedule of the Constitution) as well as to make the best Indian literature available to Hindi readers through translations, thereby broadening the interest and making the novels accessible to a larger set of readers, he noted.

Canara Bank Q4 profit up 90.6% at Rs 3,175 cr, robust NII boosts growth

State-owned lender's board recommends dividend of Rs 12 per share for FY23

Industrial credit growth slips to a 12-month low of 7% in February

The slowdown in industrial credit was much sharper than the slowdown in overall non-food credit, which continued to grow in double digits at 15.9 per cent YoY in February

Credit growth expected to moderate to 10% in FY24 from 15% in FY23: Report

The credit growth momentum is waning in the country and the crucial non-food loans growth is expected to slip to 10 per cent in FY24 from more than 15 per cent in FY23, a Japanese brokerage said on Monday. Ebbing inflationary pressures, especially on the wholesale side which tends to lower working capital needs, and a likely moderation in GDP growth to 5.3 per cent in FY24 were cited as the primary reasons for the lower bank credit growth expectation by Nomura. " we expect credit growth to moderate to 10 per cent in FY24 from 15 per cent in FY23," analysts at the brokerage said in a report, adding that the base effect will also be partly responsible for driving the number down. They also said the rate hikes of more than 2.50 per cent by RBI in the current tightening cycle will impact credit growth through a lagged impact on borrowings, and already, there are some signs of a dent on the home loan front. The credit growth momentum is already moderating, the brokerage said, pointing o

IMF likely to have erred on India's growth forecast, says RBI paper

Some recent moderation in credit growth; delinquencies reducing except in credit cards, study loans

Yes Bank records credit growth of 11% Rs 2.01 trn in March quarter

Yes Bank on Wednesday said it has reported a credit growth of 11.3 per cent at Rs 2.01 lakh crore for the March 2023 quarter. The outstanding credit was Rs 1.81 lakh crore at the end of March 31, 2022, Yes Bank said in a regulatory filing. The lender registered a 12.9 per cent growth in deposits excluding Certificate of Deposits (CDs). Another private sector lender Karnataka Bank posted a 6.1 per cent increase in total loans to Rs 61,326 crore, while deposits grew by 8.69 per cent to Rs 87,362 crore. As a conscious business decision and a course correction measure, the bank has not emphasised on large corporate lending due to low yields and highly competitive rates in this segment, which would have adversely impacted the NIM, Karnataka Bank said in a statement. This is reflected in the fact that the share of large corporates to gross advances has dropped by about 3 per cent as on March 2023 (provisional) vis--vis December 2022, it said.

BoM logs 30% loan growth, total business crosses Rs 4 trn in Q4 FY23

State-owned Bank of Maharashtra (BoM) on Wednesday said it has posted a credit growth of 29.59 per cent at Rs 1.75 lakh crore for the March quarter. The outstanding credit was Rs 1.35 lakh crore at the end of March 31, 2022, BoM said in a regulatory filing. The Pune-headquartered lender registered a 21.28 growth in total business to cross a milestone of Rs 4 lakh crore. At the end of March 2023, the total business (total advances and total deposits) increased to Rs 4.09 lakh crore as against Rs 3.37 lakh crore at the end of the previous fiscal. Total deposits of the bank increased by 15.7 per cent to Rs 2.34 lakh crore as against Rs 2.02 lakh crore at the end of the fourth quarter of the previous financial year. During the quarter, it said, the Current Account and Savings Account (CASA) stood at 53.39 per cent of the total deposits. With regard to Credit Deposit (CD) ratio, it said, the number has increased to 74.87 per cent at the end of March 31, 2023 as against 66.85 per cent i

HDFC Bank records 16.9% increase in credit growth at Rs 16 trillion

Private sector lender HDFC Bank on Monday said it has recorded a 16.9 per cent increase in credit growth at Rs 16 lakh crore at the end of the March quarter. The bank had an outstanding credit at Rs 13.6 lakh crore at the end of March 31, 2022, HDFC Bank said in a regulatory filing. On a sequential basis, the bank posted a 6.2 per cent growth compared to the amount of Rs 15.06 lakh crore at the end of 2022 December quarter. As per the bank's internal business classification, domestic retail loans grew around 21 per cent compared to the end of March 2022 and about 5 per cent compared to the end of December 2022. Commercial and rural banking loans grew around 30 per cent over March 31, 2022 and about 9.5 per cent compared to December 31, 2022. Corporate and other wholesale loans rose around 12.5 per cent over March 31, 2022 and around 4.5 per cent over December 31, 2022, it said. The bank's deposits aggregated to approximately Rs 18.83 lakh crore as of March 31, 2023, a growth of a

Small business NPAs decline in Q2FY23 despite high credit growth: Report

The Non-performing assets (NPAs) from the small businesses segment have witnessed a decline in the September quarter of this fiscal despite high credit growth, a report said on Thursday. The micro, small and medium enterprises' (MSME) NPAs declined to 12.5 per cent as of September 2022, as against 13.9 per cent in September 2021, after the devastating second wave of the Covid-19 pandemic, the report by Transunion Cibil said. The overall disbursements, which excludes loan renewals, grew 24 per cent during the quarter, led by an over 54 per cent in the micro industries segment which have a credit exposure of up to Rs 1 crore, the credit information company said. The average loan size for the micro segment increased by 34 per cent, and to the small segment by 4 per cent, Cibil said, adding that the same was down 1 per cent in the case of businesses classified as medium primarily because of the emergency credit-linked guarantee scheme loans made during the pandemic. When it comes to ..

India's steadying economy shows early signs of weakening consumption

Economic expansion may be under pressure as the "full-blown impact" of the Reserve Bank of India's 250 basis point hike in borrowing cost since May gets transmitted to end-consumers, Crisil Ltd., the

Retail trade and NBFCs drive credit growth in services: RBI data

Retail trade, NBFCs drive credit growth in services

Credit growth of banks accelerates 16.8% in December quarter: RBI

Indian banks' credit growth doubled to 16.8% in the October-December quarter from a year earlier, data released by the Reserve Bank of India (RBI) on Monday showed

State Bank of India expects moderation in growth in global books

The foreign office advances were up by 21.47 per cent year on year (YoY) basis to Rs 4.86 trillion in December 2022 from Rs 4.0 trillion in December 2021

State Bank of India books over Rs 14,000-cr profit in its best performance

A healthy rise in NII and a sharp drop in credit costs boost bottom-line

Credit growth to sustain and spark virtuous cycle: Economic Survey

The year-on-year (YoY) growth in non-food bank credit sped up to 15.3 per cent in December 2022, with the credit growth broad-based across sectors, the Survey said

Bank credit for services up three-fold in Apr-Dec 22 as economy picks up

Credit to NBFCs and trade (wholesale and retail) showed maximum traction, RBI data showed