Banking, Financial Services Q1 Preview - Sluggish Quarter Due To Pandemic; Focus On Outlook: ICICI Direct
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ICICI Direct Report
Q1 FY22 saw the ups and downs of partial lockdowns post a smooth recovery in Q4 FY21.
The Reserve Bank of India again supported by offering extension of Emergency Credit Line Guarantee Scheme and government raising the cap to Rs 4.5 lakh crore.
With the second wave of the pandemic forcing lockdowns yet again, the road to recovery has been elongated as bank credit offtake has failed to garner momentum and has remained in the range of 5.5-6%.
However, given muted credit growth, absence of substantial treasury and revival in opex is seen keeping operational performance moderate, profitability is expected to witness a healthy surge led by lower provision compared to the last fiscal.
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