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Motilal Oswal Report
According to the Reserve Bank of India's latest release for January 2022, the weighted average lending rates on fresh loans has improved 10 basis points month-on-month with private banks seeing an increase of 12 bps month-on-month versus 7 bp month-on-month increase for public sector banks.
The one-year marginal cost of lending rate rate for large banks moderated in the range of 0-5 bp YoY, while for mid-sized banks it has swung in a wide range of down 52/up 20 bps YoY.
The weighted average term deposit cost for the banking system has largely stabilised with the same reporting a decline of 1 bp month-on-month to 5.03% (33 bps YoY decline).
This indicates that cost of deposits across public sector and private banks has nearly bottomed out and the potential changes in term-deposit rates will drive the movement in portfolio deposit cost going further.
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