Home / Industry / Banking / Net profit of listed commercial banks seen growing 44% in Q1 FY24

Net profit of listed commercial banks seen growing 44% in Q1 FY24

Healthy growth in NII, controlled credit costs to support bottom line: Analysts

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3 min read Last Updated : Jul 06 2023 | 9:52 PM IST

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Benefiting from higher credit off-take and loan repricing, listed commercial banks are expected to post 43.9 per cent year-on-year (YoY) growth in their net profit in the quarter ended June 30 (Q1FY24), analysts have said.

Controlled credit costs due to a healthy asset quality profile and a steady treasury book will also support a strong bottom line for the lenders in the first quarter. However, net profit may shrink sequentially, according to analysts’ estimates for 13 banks sourced from Bloomberg data.

The estimates showed that the banks’ net interest income (NII), revenues from interest minus interest expenses, may grow 28.8

Topics : banks in india profit margins

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