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Motilal Oswal Report
For Q4 FY24, we estimate net interest income for our banking coverage universe to grow ~7.4% YoY/2.9% QoQ (excluding HDFC Bank Ltd.), while controlled opex and modest treasury gains (amid moderation in bond yields) will enable 1.6% YoY/5.5% QoQ growth in pre-provision operating profit (excluding HDFC Bank).
For Q4 FY24, we estimate earnings growth of 12% YoY for public sector banks and 14% for private banks (6% excluding HDFC Bank).
We estimate our banking universe earnings to grow 28% (~26% excluding HDFC Bank) in FY24, 18% in FY25, and 17% YoY in FY26.
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