BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Karur Vysya Bank Ltd. sustained improving earning trajectory, recorded highest ever profits since Q1 FY18, at Rs 1.65 billion (up 52% QoQ), despite one-off employee related expense of Rs 0.26 billion.
Strong net interest income growth at 7% QoQ driven by 19 basis points QoQ margin expansion and lower provision of Rs 1.6 billion (1.3% annualised) versus Rs 2.6 billion in Q1 FY22 supported earnings.
Fresh slippages of Rs 1.6 billion with higher recoveries at Rs 3.6 billion, special mention account 30 plus pool at 1.86%, 97% plus collections in September 2021 summarise the asset quality performance of Karur Vysya Bank during Q2 FY22.
Taking cognisance of improved economic outlook and recent delinquency/recovery trend, management maintained its full year slippage guidance of 2%.
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