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ICICI Direct Report
Q3 FY22 is expected to be sequentially better on the growth and operational front for lenders, in general, barring a few exceptions.
Credit offtake, as per latest Reserve Bank of India data, is showing a gradual improvement and has reached the 7.3% mark, which is mainly driven by retail and micro, small and medium enterprise segments.
Festive and pent up demand is expected to push credit growth. Spends data on credit card segment crossing Rs 1 lakh crore mark also substantiates improving demand.
Asset quality is expected to show an improvement with full three months of the quarter not being in lockdown, thus aiding recoveries.
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