Banks set for another robust quarter
SummarySustained credit demand seen last quarter and lower credit costs would be the key drivers of growth for banks. The systemic credit growth stood at 15% y-o-y as of 24 March, showed the latest fortnightly data by the Reserve Bank of India (RBI).
After reporting stellar results in the December quarter (Q3FY23), banks are likely to see healthy earnings performance in Q4 as well. Recently-released provisional business updates by some large banks are a precursor to that. HDFC Bank and IndusInd Bank said they clocked year-on-year (y-o-y) loan growth of about 17% and 21%, respectively.