Synopsis
• Gross bank credit offtake witnessed an increase of 19.9% year-on-year (y-o-y) in December 2023 propped by sustained demand from the personal loans and services segments (however, both categories have moderated compared to prior periods) and the impact of the merger between HDFC Bank and HDFC which offset the tepid growth in the industry segment. Without considering the merger, the y-o-y growth stood at 15.6%, higher by 0.7% than last year’s growth number of 14.9%.
