Gold loans: 4 scheduled private sector banks headquartered in Kerala witness double-digit growth

Sanila Arjun

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Kochi: Four scheduled private sector banks headquartered in Kerala have witnessed double digit growth in gold loan portfolio during July-September quarter of 2022-23.

The banks Federal Bank, South Indian Bank, CSB Bank and Dhanlaxmi Bank disbursed loans worth Rs 42,299 crore during this period. In the corresponding period of the previous year, the loans disbursed totalled Rs 32,625 crore. That means, the banks witnessed 23 per cent growth in gold loan portfolio compared to last year.

The banks, their gold loan disbursal for July-September period of 2021-22 period and 2022-23 period and growth rate are as follows:

BanksJuly-September(2021-22)July-September(2022-23)Growth rate
Federal BankRs 15,976Rs 19,29920%
South Indian BankRs 9,470Rs 12,91336.3%
CSB BankRs 5,460Rs 8,03647.17%
Dhanlaxmi BankRs 1,719Rs 2,05119.3%
Easy loan availability and low-risk are some of the factors that attract people to gold loans. Similarly, most banks in Kerala prioritise gold loan portfolio under retail section.

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