Bank of Baroda (BoB) has seen double digit growth in retail loans, said Sanjiv Chadha, Managing Director and Chief Executive Officer of the bank on Monday.

“Retail loans has seen good growth. For BoB we have had double digit growth in home loans, and car loans have had a very robust growth of about 30 percent. However, corporate growth has been tepid,” he said in an interview with CNBC-TV18.

According to Chadha, MSME growth has been driven by the ECLGS scheme.

“There we have had very strong response to the scheme. Nearly 90 percent of all eligible borrowers have taken advantage of the scheme,” he said.

On credit offtake, Chadha said, “Credit offtake has been moderate to tepid. We are looking at a credit growth of about 6-7 percent this year.”

He also said that restructuring in retail book is low. “When we talk of the retail book where there was a fair bit of uncertainty in terms of how things would go and the moratorium figures were high, what we find is when it comes to the restructuring demand has been very low. Going ahead we would see some difficulty, but I don’t think we should look at what has happened over the 6-8 months to get some kind of handle in terms of what is likely in the future.

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(Edited by : Ajay Vaishnav)