Repco Home Finance Q3 Review - Lower Covid -19 Impact On Asset Quality: IDBI Capital
A customer counts Indian rupee banknotes.  (Photographer Dhiraj Singh/Bloomberg)

Repco Home Finance Q3 Review - Lower Covid -19 Impact On Asset Quality: IDBI Capital

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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.

IDBI Capital Report

Repco Home Finance Ltd. reported lower rise in stage-three assets (proforma) versus earlier expected; gross stage-three (Proforma) at 4.3% versus 4.0% QoQ.

Also restructured assets stood at 0.3% which is part of Proforma stage-three assets is key positive.

Loan growth was lower at 4% YoY (5% YoY Q1 FY21) versus 7% YoY (FY20) led by higher balance transfers by banks as well as lower disbursements (down 16% YoY).

Net interest income grew by 16% YoY (up 9.5% QoQ) led by improvement in net interest margins; pre-provision operating profit grew by 22% YoY led by improvement in cost to income ratio.

Click on the attachment to read the full report:

IDBI Capital Repco Home Finance Q3FY21 Result Update.pdf

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