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Credit growth outpaced deposit growth in the second quarter for most banks that released provisional business data on Thursday.
From large lenders such as and to smaller ones such as , the trend remained the same, with South Indian Bank being an exception.
Canara Bank reported 19.4% year-on-year credit growth to ₹13.74 lakh crore at the end of September, while deposits grew 13.1% to ₹16.97 lakh crore. Indian Bank’s credit outstanding grew 16.6% to ₹7.23 lakh crore, while deposit growth stood at 12.4% at ₹8.73 lakh crore. Deposit growth lagged for a majority of these banks despite massive inflows into foreign currency non-resident bank (FCNR-B) deposits, as banks used this cushion to shed high-cost bulk deposits.
Bank wise business updates:
| Bank | Credit outstanding (₹ lakh crore) | Credit growth (%) | Deposit outstanding (₹ lakh crore) | Deposit growth (%) |
| Canara Bank | 13.74 | 19.4 | 16.97 | 13.1 |
| Indian Bank | 7.23 | 16.6 | 8.73 | 12.4 |
| Punjab & Sind Bank | 1.26 | 19.4 | 1.53 | 13.0 |
| Karnataka Bank | 0.92 | 24.9 | 1.15 | 12.0 |
| South Indian Bank | 1.10 | 18.7 | 1.37 | 18.7 |
| Tamilnad Mercantile Bank | 0.61 | 29.4 | 0.70 | 25.5 |
| Dhanlaxmi Bank | 0.16 | 22.3 | 0.21 | 20.2 |
| Capital Small Finance Bank | 0.10 | 23.4 | 0.11 | 16.2 |
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