India Financials Conference 2022 - Day 1 Key Takeaways: ICICI Securities

ICICI Securities Report

Day-one of India Financials Conference 2022 spread over the week with the underlying theme ‘New-Age, New-Edge, New-Pledge’ was enriching and insightful. The conference is focused on assessing how institutions are reshaping themselves to become new-age entities with new-edge capabilities and new pledge of future-ready sustainable ecosystem.

We had a blend of representation from banks, non-banking financial companies, asset managers, small finance banks, micro finance institutions and distributors on Day-one. Some common read-throughs include:

1. During festive season, credit demand has gained traction improving visibility on growth.

2. Deposit growth continues to lag credit growth expanding the credit /deposit ratio and banks are focused on accelerating the granular deposit engine.

3. Loan repricing benefit (external benchmark lending rate with one-three month reset / marginal cost of funds based lending rate with three-six months reset) will flow in the coming quarters as well though to be offset by deposit cost pressure.

4. Continuous investment in building capabilities has resulted in elevated cost structure, but operating leverage benefit should flow as growth gains momentum.

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