Indian lenders are set to see life high credit growth, surpassing the Rs 19 lakh crore mark in the current fiscal year, domestic rating agency ICRA said on Monday. It also said that system level asset quality will also improve to close to 4%.
Incremental credit growth in FY2023 is expected to remain at an all-time high of Rs.18-19 lakh crore in FY2023, which will be significantly higher than the previous high of Rs. 11.4 lakh crore in FY2019. Incremental credit growth expected to remain buoyant at Rs.15.0-16.0 lakh crore in FY2024. The headline asset quality and profitability metrics are likely to be the best witnessed during the last decade, ICRA said.
Source:
Economic Times
