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Systematix Research Report
Scheduled commercial banks witnessed non-food credit growth of 6.9% YoY, 1.4% QoQ and 0.8% month-on-month in October 2021, led by agriculture, retail and industrial sectoral credit growth.
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In absolute terms, total incremental net credit addition was at Rs 881 billion on a month-on-month basis; key contributors were the retail and services sectors with net credit expansion of Rs 324 billion and Rs 371 billion, respectively.
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Credit additions in the agriculture and industrial sectors were relatively lower at Rs 227 billion and Rs 250 billion, respectively.
There has been a substantial improvement in net credit expansion at Rs 943 billion during FYTD22 versus contraction of Rs 469 billion in FYTD21.
Significantly lower credit book contraction in large corporate industrials (at Rs 1.05 trillion in FYTD22 versus Rs 1.5 trillion in FYTD21), with expansion in retail credit, led to strong traction in FYTD22.
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