Deposit Growth Outpaces Credit Offtake Against December 2023: CareEdge Analysis

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..CareEdge Research Report.Credit growth is trending down and continues to converge with deposit growth on an annual basis. Meanwhile, if we observe the growth rate compared with December 2023, deposits have outpaced credit offtake. Credit offtake increased by 6.8% compared to December 2023, reaching Rs 170.5 lakh crore as of September 6, 2024. Personal loans and MSMEs account for the majority of this growth. Meanwhile, sequential credit growth was 0.6%. This slowdown can be attributed to RBI measures, including higher risk weights on unsecured loans and the impact of a higher base effect. Additionally, the proposed LCR norms may present challenges to bank credit growth in the coming months.Deposits rose at 7.3% compared to December 2023 and reached 215.5 lakhs crore as of reported Sep 6, 2024, driven by growth in time deposits. Sequentially deposits increased by 1.1%. The Short-term Weighted Average Call Rate has remained the same at 6.54% as of September 13, 2024, compared to 6.71 as of September 15, 2023..Click on the attachment to read the full report:.MAS Financial - Prioritizing Profitability Over Growth, Geographic Expansion On The Card: Axis Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Deposit Growth Outpaces Credit Offtake Against December 2023: CareEdge Analysis

Credit offtake increased by 6.8% compared to December 2023, reaching Rs. 170.5 lakh crore as of September 6, 2024, adds the brokerage.

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Deposit Growth Outpaces Credit Offtake Against December 2023: CareEdge Analysis

Credit offtake increased by 6.8% compared to December 2023, reaching Rs. 170.5 lakh crore as of September 6, 2024, adds the brokerage.

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