Banking sector 2021: Best non-food credit growth since Jan 2020

Non-food credit has seen its best growth since January 2020, although credit to deposit growth continues to be weak. Year-on-year (YoY), the non-food credit growth is at 7.44; perhaps the best since January 17, 2020.

The food credit growth is down about 10 percent YoY, the overall loan growth is at 7.3 percent YoY. However, deposit momentum continues to remain higher than loan growth at about 9.3 percent YoY which means that the overall industry level of credit deposit ratio continues to remain weak at and around 70.6%.