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.
Systematix Research Report
We expect private banks to outperform public sector banks in terms of balance-sheet growth and margin expansion in Q3 FY22. A gradual rise in G-Sec yields would not have represented capital gains in fixed-income papers for banks (particularly PSBs), but it could support banks on the establishment cost front due to lower estimated terminal benefit expense.
We build in a higher net delinquency rate (sequentially) due to negligible/much lower credit restructuring and normalised non performing asset recoveries. We expect our banking coverage universe to report 12%/8%/6% YoY growth in average working funds/net interest income/pre-provision operating profit, respectively.
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