Bank Credit Provisions

Deposit growth moderates to 8.25%

RBI data showed the metropolitan regions saw maximum acceleration with YoY credit growth vaulting from 2.7% in June 2021 to 13.2% in June 2022

Rise in stressed assets may not push bills for provisions as lenders maintain higher provision coverage ratio for few quarters

The lender's net interest income grew by 9.4% YoY to Rs 1,418 cr in Q1FY22 compared to Rs 1,296 cr in the year-ago period

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Net profit for reporting quarter rises by 19.6 per cent to Rs 6,658.62 crore from net profit of Rs 5,568.16 crore in Q1FY20

The rating agency expects the scope of a further cut in deposit rates to be limited