BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Savings account balances of ticket size in excess of Rs 1 million are tending to move out or move into the term deposit bucket. Furthermore, there has also been some impact due to non-replenishment of government money.
Corporate loans grew 6.8% QoQ even though the spread in this business is under pressure, something Kotak Mahindra Bank seeks to avoid. Within retail, unsecured businesses enjoyed breath-taking sequential growth. Personal loans, business loans, consumer durables), credit cards and retail microfinance grew 10.2%, 15.9% and 20.1% QoQ, respectively.
The share of unsecured retail, which is now 9.3% of loan book, is targeted to be in the mid-teens, which should be achieved by Q4 FY24.
Provisions were Rs 1.49 billion, up by 8.6% QoQ and against a provision write-back of Rs 1,317 million in the same quarter a year ago. There was some reversal of Covid provisions during the quarter. Excluding the reversals, the credit cost for the quarter amounted to 27 bps on annualised basis.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
