Kerala banks post marginal growth in advances

April 25th, 2009 - 4:44 pm ICT by IANS  

Thiruvananthapuram, April 25 (IANS) Banks in Kerala have posted a marginal growth of 6.3 percent in advances from Rs.80,131 crore in June 2008 to Rs.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 Rs.2,920 crore in June to Rs.4,049 crore in December.

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

Loans given to the housing sector also witnessed a marginal increase from Rs.13,839 crore to Rs.14,354 crore, while loans to the agriculture sector went up from Rs.16,040 crore to Rs.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 Rs.108,658 crore in June to Rs.122,613 crore in December.

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