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Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Yo-Y) increase in net profit.
Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
Sequentially, NII may contract by 4.8 per cent on rising cost of deposits while net profit is likely deposit rates. This is likely to weigh on to come down by 6 per cent.
This story is from the July 05, 2024 edition of Business Standard.
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This story is from the July 05, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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