5.6 C
Munich

Overall credit market grows 11.1% to Rs 174.3 trn in FY22: Report

Must read

[ad_1]






Led by a 122 per cent spike in retail loan volume, the overall grew 11.1 per cent in FY22 over the previous year to Rs 174.3 lakh crore, according to a report.


According to CRIF High Mark, the total lending market stood at Rs 174.3 lakh crore as of March 2022, registering an 11.1 per cent growth over March 2021.


Commercial, retail and microfinance lending portfolios contributed 49.5, 48.9, and 1.6 per cent, respectively to this growth.


Giving a break-up, the report said personal loans saw a full 46 per cent growth in originations by value, and a much higher 122 per cent growth in originations by volume in FY22 over the previous year, and the sector is dominated by state-run and private along with non-banking entities.


Led by private sector banks, credit cards saw a higher 48 per cent growth in new card originations and the share of the new card originations of private increased from 61.2 per cent in FY21 to 71.4 per cent in FY22.


Two-wheeler loans, dominated by non- and private sector banks, rose at a tepid 9.2 per cent growth in originations by value, and 2 per cent growth in originations by volume.


On the other hand, despite the steep fall in auto sales due to supply-side issues, auto loans grew 23 per cent in value and 8.5 per cent growth in volume.


Home loans, the mainstay of the banks for long now, witnessed a 29 per cent growth in value and 20 per cent in volume.


Consumer durable loans jumped 66 per cent in value and 43 per cent in volume and the sector is dominated by non-banking lenders.


Reflecting the crisis among the poor, microfinance loans grew 22 per cent in value and 13 per cent in volume.


Commercial loans grew 73 per cent and business loans saw a 10 per cent growth during the reporting period.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


[ad_2]

Source link

- Advertisement -spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Latest article