![](https://img.etimg.com/photo/99444829.cms)
Traditional gold loan firms, such as Muthoot Finance and Manappuram Finance, are losing market share to banks, including SBI, HDFC Bank, and Canara Bank, which benefit from an established, low-cost deposit base. Muthoot Finance and Manappuram Finance saw 5% expansion and 9% contraction YoY, respectively, in gold loans through December 2022, while banks' gold loans rose by a range of 19% to 54%. Industry experts suggest banks have an edge in faster turnaround times and better loan rates. CSB Bank is well-positioned to benefit from the current gold cycle, with a high gold loan portfolio and expanding margins and NPA improvements.