 "Banks")
Private sector banks posted 47.2 per cent year-on-year (YoY) growth in net profit in the April-June quarter (first quarter, or Q1) of 2022-23 (FY23) on sharp fall in provisions and contingencies.
Propped up by repricing of loans and robust credit growth, net interest income (NII) expanded 16.9 per cent YoY and 3.7 per cent quarter-on-quarter, reveals a BS Research analysis of 14 listed Indian private banks.
The Reserve Bank of India (RBI) in its July bulletin said banks increased their external benchmark lending rate by 50 basis points (bps) in June. Twenty-eight domestic banks have also increased their one-year marginal
