Financial Services Q3 Earnings Preview: Undercurrents Positive, Asset Quality Clarity To Emerge, Says Prabhudas Lilladher
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Prabhudas Lilladher Report
Opening up of businesses, collections closer to pre-Covid-19 levels and adequate provisioning buffers for any untoward stress indicate positive undercurrents for non-banking financial companies.
Closer to higher single digit asset under management growth, net interest margin improvement underpinned by reduced balance sheet liquidity and peaked out credit costs sum up Q3 FY21 earnings expectations.
Gold and housing financiers should continue to outshine other asset classes both in terms of growth and asset quality.
Yet, H2 FY21 should provide better clarity on asset quality picture across all NBFCs as 90 days past due and credit bureau score freeze lift.
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