Most banks reported double-digit growth in their portfolios, broadly in line with the credit growth seen in the banking system.
The net profit figures of private sector banks soared in the July-September (Q2FY23) quarter, on the back of higher net interest income (NII) and robust loan growth.
Moreover, the lag in passing off increased rates of interest to depositors while pushing the lending rates higher, following the raising of the repo rate by the Reserve Bank of India (RBI) by 190 basis points, translated into an impressive growth in the margins of these lenders.
Except for Yes Bank, all major private sector lenders that reported their July-September earnings, saw their provisions drop. Asset quality also improved significantly as both gross
First Published: Oct 26 2022 | 7:19 PM IST