Saturday, December 4, 2010

Domestic bank loans to private sector up 17.4%

Total credit to the private sector increased by 15.5 percent to Rs. 1.36 trillion year-on-year in September with domestic banks increasing their lending by 17.4 percent to Rs.1.21 trillion and foreign banking units increasing their lending 1.8 percent to Rs.150.1 billion.
A year ago, total credit to the private sector had declined 5.3 percent amounting to Rs. 1.17 trillion, with domestic banking sector loans decreasing by 4.4 percent to Rs. 1.03 trillion.

Net credit to the government increased by 6.8 percent to Rs.693.1 billion. Credit from monetary authorities increased 43.1 percent to Rs. 100 billion, increased by 9.4 percent to Rs.495.4 billion from the domestic banking sector and increased 9.4 percent to Rs. 97.7 percent from foreign banking units.

Total credit to public corporations increased by 48.6 percent to Rs.104.6 billion with the credit from the domestic banking sector increasing by 14.4 percent to Rs. 80.5 billion.

The average weighted prime lending rate, applicable to high net-worth individuals and corporations, was 9.43 percent as at November 26, 194 basis points lower than 11.37 percent a year ago.

The average weighted deposit rate of the banking sector was 6.43 percent, 333 basis points lower than 9.76 percent a year ago.

The average weighted fixed deposit rate was 8.48 percent, 457 basis points lower than 13.05 percent a year ago.

The total number of active credit cards amounted to 816,521 as at end September down 2.85 percent from 840,509 a year ago. Outstanding balances amounted to Rs. 29.12 billion down 7.16 percent from Rs. 31.3 billion a year ago.

Excess liquidity in the banking system averaged Rs.126.33 billion each day during the week ended November 26.
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