Q4 FY19 earnings reaffirm improvements in credit costs, slippages and return ratios for the three leading corporate lenders.
Q4 FY19 results for Axis Bank, ICICI Bank and SBI indicate that for these lenders, the legacy issues of NPAs, credit costs and sub-optimal return ratios are coming to an end. Simultaneously, these banks are showing the benefits of strong credit growth particularly in the retail sector. The combination of lower provisions and strong gains in operating income are suggestive of RoE in mid-teens by FY21.
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