Financial Services Q2 Earnings Preview - Pandemic Woes Not Behind As Yet: Prabhudas Lilladher
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Prabhudas Lilladher Report
Absence of moratorium dispensations made the borrower stress strikingly visible during second Covid-19 wave, as delinquencies and provisions spiked across non banking financial companies.
However, economic environment has turned positive July 2021 onwards with calibrated unlocking, increased vaccination drives, receding third wave fears and Government of India relief measures.
Additionally, NBFCs have not only built liquidity and provision buffers but also witnessed rapid improvement in collections, enabling participation in credit growth cycle.
However, normalisation and full recovery in credit and credit quality is expected only in H2 FY22.
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