Deposits of public sector banks (PSBs) in percentage terms over a period of 5 years has grown at a lower rate between 2002-03 to 2006-07, vis-?-vis an increase in deposits of private banks during the same period.
The deposit figure of 27 PSBs was a compound annual growth rate (CAGR) of 15.95%, while the total deposit of 18 private banks increased by 32.28% in the said period. In actual value terms, the total deposits of PSBs steadily increased by 80.8% from Rs 10,79,164 crore in 2002-03 to Rs 19,50,846 crore in 2006-07. On the other hand, the total deposit of private banks also steadily moved up by 206.1% from Rs 1,73,672 crore in 2002-03 to Rs 5,31,703 crore in 2006-07.
In PSBs, it showed 13.92% in 2003-04, when the total deposit of private banks grew 31.66% in simple terms. When the total deposit of PSBs showed a growth of 15.61% in 2004-05, the total deposits of private banks increased by 26.47%. In the year 2005-06, when the total deposits of PSBs grew 12.31%, the total deposits of private banks increased by 39.6%. In 2006-07, the total deposit of PSBs registered a growth of 22.19%, the total deposit of private banks grew by 31.69%.
Among 27 PSBs, the highest CAGR in deposit was seen in Syndicate Bank (26.55%), followed by State Bank of Mysore (25.02%), and Allahabad Bank (23.66%). The total deposit of Syndicate Bank increased by 156.4% to Rs 78,634 crore in 2006-07 from the level of Rs 30,661 crore in 2002-03.
The lowest CAGR in deposit was by P&S Bank (9.94%), followed by SBI (10.12%) and Bank of Maharashtra (11.21%). In private banks, the highest CAGR in deposits was registered by Kotak Mahindra Bank (155.78%), followed by Centurion Bank of Punjab, (51.32%) and ICICI Bank (47.9%). The total deposit of Kotak Mahindra Bank increased from Rs 257 crore in 2002-03 to Rs 11,000 crore in 2006-07. The lowest CAGR of total deposit was seen by DCB (4.82%), followed by Catholic Bank (7.88%) and ING Vysya Bank (13.82%).