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Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr

Healthy interest margins, credit offtake boost bottomline; provisions show subdued rise on better asset quality

December quarter results: Analysts expect tepid numbers
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The net interest income (NII) rose by 26.6 per cent YoY and sequentially 8.9 per cent

Abhijit Lele Mumbai
Reflecting the benefit of repricing of loans and robust credit offtake, private sector banks posted 31.7 per cent growth year-on-year (YoY) in net profit to Rs 35,166 crore in the third quarter ended December 2022 (Q1FY23). Sequentially, net profit rose by 12.6 per cent over Rs 31,218 crore in the second quarter ended September 2022 (Q2FY23).

The net interest income (NII) rose by 26.6 per cent YoY and sequentially 8.9 per cent over the second quarter ended September 2022, according to data for 15 listed banks compiled by BS Research Group.

Banks gained from higher increases in lending rates compared

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First Published: Jan 25 2023 | 10:50 PM IST

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