Private Banks Outpace Public Lenders in Deposit Growth Despite Sector Challenges
In the January-March quarter, private sector banks reported higher deposit growth rates compared to public sector banks, amid challenges in mobilising deposits. IDFC First Bank led the private sector with a 17.2% increase. Public banks like Bank of India showed comparable growth, while lending advances improved more in public than private banks.
- Country:
- India
Private sector banks have reported stronger deposit growth rates for the January-March quarter compared to their public sector counterparts, amid industry-wide challenges in deposit mobilisation.
According to data compiled from banks' provisional disclosures, private lenders achieved deposit growth between 12-17% in the fourth quarter of FY26. In contrast, public sector banks recorded growth between 2-14%.
Leading the private sector, IDFC First Bank posted a 17.2% increase. HDFC Bank is expected to maintain a 14% growth rate through FY28. Meanwhile, state-owned banks demonstrated stronger lending advances than the private sector, showing growth in the range of 12-22%.
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