Demonetization has hurt credit growth? Really. Check loan growth, especially for Yes and Federal
This week 8 Banks reported their quarterly results for Dec-16 quarter.
Against the expectation of slow loan growth, due to Demonetization, banks actually posted healthy loan growth of 19% vs Avg of 20%.
Federal Bank and Yes Bank had much better loan growth compared to average of last 8 quarters.
At the same time, Axis Bank and Lakshmi Vilas Bank had dismal growth.