This surge is largely due to rising lending rates and an expansion in the net interest margins of banks and non-bank lenders.
As a result, BFSI firms have become major contributors to corporate earnings in many economies. India's corporate earnings performance is particularly dependent on the BFSI sector, more so than most other major economies, with the exception of China.
In India, the BFSI sector now accounts for nearly 35 per cent of total corporate profit. This is higher than the United States (29.3 per cent), Western Europe (27.3 per cent), the United Kingdom (27.3 per cent), Japan (9.7 per cent), and South Korea (32.6 per cent). Only China surpasses India in this regard, with BFSI firms accounting for 54.9 per cent of the country's corporate earnings.
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