December 19, 2009

Leading private sector lender, Axis Bank has seen its credit growth picking up in the third quarter above the industry average on the back of revival in economic activities, a top bank official said."The credit growth has been picking up, but slowly. In September, the average credit growth in the industry was 9.9 per cent, while the figure in December has risen to 10.3 per cent. We are slightly ahead of the industrial average," Axis Bank's Managing Director & CEO, Shikha Sharma said.

However, the pick up in credit growth over the past few months has been taking place slowly across different segments, Sharma told on the sidelines of a seminar. The credit growth has been picking up, but slowly. What we can say is we are in line with the industry.In fact, we are slightly ahead of the industrial average," Sharma said. With inflation inching up, the Reserve Bank is likely to take actions in specific sectors, Sharma said.