Private banks post 31.7% YoY growth in Q3, net profit rises to Rs 35,166 cr

Healthy interest margins, credit offtake boost bottomline; provisions show subdued rise on better asset quality

Abhijit Lele Mumbai
December quarter results: Analysts expect tepid numbers

The net interest income (NII) rose by 26.6 per cent YoY and sequentially 8.9 per cent

Reflecting the benefit of repricing of loans and robust credit offtake, private sector banks posted 31.7 per cent growth year-on-year (YoY) in net profit to Rs 35,166 crore in the third quarter ended December 2022 (Q1FY23). Sequentially, net profit rose by 12.6 per cent over Rs 31,218 crore in the second quarter ended September 2022 (Q2FY23).
The net interest income (NII) rose by 26.6 per cent YoY and sequentially 8.9 per cent over the second quarter ended September 2022, according to data for 15 listed banks compiled by BS Research Group.
Banks gained from higher increases in lending rates compared to rise in deposit rates. Reserve Bank of India (RBI)’s latest data showed that the weighted average lending rate (WALR) on outstanding rupee loans of private banks rose by 67 basis points from 9.77 per cent in December 2021 to 10.44 per cent in November 2022. The weighted average domestic term deposit rate (WADTDR) on outstanding rupee term d

Also Read

Economic uptick boosts credit offtake beyond 20% in retail, services

Credit offtake to industry stays robust in June 2022, shows data

Ahead of festive season, credit offtake remains strong in July 2022

Why is demand for private credit on the rise?

98% of e-commerce companies looking forward to hiring in Q4FY23: TeamLease

Torrent Pharma Q3 PAT up 14% to Rs 249 crore riding on India, Brazil

DLF's net profit up 35% in Q3, total revenue falls to Rs 1,560 crore

Jyothy Labs Q3 net profit jumps 77.25% to Rs 674 crore, revenue rises

Tata Motors turns the corner: Swings into profit after 7 quarters

Ceat reports Rs 35 crore net profit in Q3, total income increases

First Published: Jan 25 2023 | 10:50 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to