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 ReportGross bank credit offtake witnessed an increase of 20.3% YoY in January 2024 propped by the impact of the merger between HDFC Bank Ltd. and HDFC Ltd. along with the sustained demand from the personal loans and services segments which offset the comparatively tepid growth in the industry segment. Without considering the merger, the YoY growth stood at 16.1%, lower by 0.2% than last year's growth number of 16.3%. Personal loans witnessed a robust growth of 28.8% YoY due to the impact of the merger (reclassification of HDFC's advances), and growth in credit card outstanding, other personal loans and housing loans. Excluding the merger impact, the growth rate reduced by around 230 bps to 18.4% in January 2024 on a YoY basis.Services segment reported a rise of 23.9% YoY in January 2024 (higher than 22.9% in December 2023) due to growth in trade, commercial real estate, and non-banking financial services (lower compared to the prior period). It also reported a robust growth of 20.7% YoY versus 21.4% a year ago without considering the merger.Industry growth reduced to 8.3% YoY in January 2024 from 8.6% in December 2023 and 8.7% in January 2023 as growth in large corporates decelerated and due to slower growth in micro, small and medium enterprises.Incremental gross bank credit rose by 17.3% in January 2024. Without considering the merger (at 13.3%), it was higher by approximately 110 bps from 12.2% over a year ago.Click on the attachment to read the full report:SCBs Witness All-Time Low Net Non-Performing Asset Levels: CareEdge AnalysisDISCLAIMERThis 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.