Three Kerala banks show double digit credit growth

In what could be an early indication of business traction seen by banks in the December quarter, three old generation private banks have reported double digit credit growth prints, in line with the steady economic recovery.

topped the chart with a 12 per cent year-on-year rise in advances to Rs 1.44 lakh crore, according to provisional data released by the bank. reported 11.6 per cent rise in advances to Rs 13291 crore while showed 10.5 per cent rise to Rs 6837 crore.

Reserve Bank of India data showed that total bank credit grew 7.3 per cent year-on-year till December 17. The central bank projected India's GDP growth at 9.5 per cent for FY22.

In a regulatory filing to stock exchanges, Federal Bank said its deposits grew by 9 per cent year-on-year to Rs 1.75 lakh crore, with CASA (current and savings account) ratio improving sequentially to 36.68 per cent at the end of December from 34.48 per cent a year back.

CSB Bank's total deposit rose by 7.34 per cent to Rs 17753 crore while Dhanlaxmi's deposits grew 5.5 per cent to Rs 11456 crore.