New Delhi, Sept. 22 -- Bank credit growth accelerated to 19 per cent year-on-year as of August 31, while deposit growth also picked up to 18 per cent, signalling continued momentum in bank lending, Jefferies said in its India Financial Daily report.

Jefferies said the latest data showed bank loan growth continuing to strengthen, with loan and investment growth together at 16 per cent, compared with 18 per cent deposit growth. The credit-to-deposit ratio stood at around 80 per cent, while the investment-to-deposit ratio was around 26 per cent.

The report said bank credit growth has surged in recent months, with private banks retaining their share, while the pace of growth could moderate ahead.

The improvement in credit growth has been v...