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Commodities

Indian Bank Sees Gold Loan Portfolio Surpass ₹1.5 Lakh Crore

Guavy AI Editorial Team
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Gold
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Indian Bank's gold loan portfolio is expected to surpass ₹1.5 lakh crore by the end of the current financial year, according to MD and CEO Binod Kumar.

Kumar stated that gold loans are 'safe lending' for banks as they generate income and help small businesses grow, unlike consumption loans.

The bank's gold loan segment grew 30% last year due to a jump in gold prices, but this growth will be slower at around 20% this year due to a decline in gold prices.

Kumar also mentioned that the bank wants to maintain its current ratio of 65% for Retail, Agriculture, and MSME loans and 35% for corporate loans going forward.

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