Bearish signal on weekly chart
Credit growth acceleration and deceleration
While the sector-wise credit data for March 2020, indicates that the incremental credit has increased only in Agri. & Allied sectors and all other sectors have shown a deceleration. Credit to Industry declined to 1.4%in FY2020 (6.9% in FY2019), services by 8.5% (17.8% in FY2019). While, personal loans declined marginally to 15.7% in FY2020 from 16.4% in FY2019, credit to MSE and NBFC has increased substantially, due to the enhanced support by Banks in the form of increase in working capital limits.
Digital banking - First few steps
During FY2020, YONO has achieved an overall growth of 2.6 times on the liabilities side (Digital accounts increased from 27 lakh to 70 lakh), 2.8 times growth on the assets side (Digital lending book size increased from 3,400 crore to 9,600 crore ) .Your Bank continued to expand its digital footprint across the country and deployed 6.73 lakh PoS terminals, 3.33 lakh Bharat QR code and on boarded 9.53 lakh merchants on BHIM-Aadhaar-SBI. In total, the number of merchant payment acceptance touchpoints crossed 19.59 lakh as on 31st March, 2020. Your Bank has acquired nearly 60 crore transactions as on 31st March, 2020 with 10% increase on YoY basis.
Wealth management - making bank wealthier
In FY2020, SBI Wealth made deep inroads into the premium market segment. Your Bank’s Wealth Management Business has shown exponential growth in terms of Client Acquisition and Assets Under Management during the financial year. The number of clients increased by 2.4 times, from 55,502 in March, 2019 to 132,354 in March, 2020 while the AUM grew by 3.6 times, reaching rupees 109,061 crore against rupees 30,270 crore during the period.