Kerala banks post marginal growth in advances

Monday, 27 April 2009, 03:37 Hrs
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Thiruvananthapuram: Banks in Kerala have posted a marginal growth of 6.3 percent in advances from 80,131 crore in June 2008 to 85,174 crore as on Dec 31, according to the State Level Bankers Committee (SLBC).

The SLBC in a meeting here said loans given to the education sector reported the biggest jump when it went up from 2,920 crore in June to 4,049 crore in December.

The advances extended to the priority sector grew slightly from 46,257 crore to 47,780 crore, the committee said.

Loans given to the housing sector also witnessed a marginal increase from 13,839 crore to 14,354 crore, while loans to the agriculture sector went up from 16,040 crore to 16,316 crore.

The slow growth, according to the SLBC, is mainly due to the global economic slowdown.

However, deposits saw 12.8 percent jump from 108,658 crore in June to 122,613 crore in December.
Source: IANS
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