Banks face pressure on NIM as they lower rates to outsmart rivals

Banks face pressure on NIM as they lower rates to outsmart rivals

Banks face pressure on NIM as they lower rates to outsmart rivalsNov 1, 2021, 07:16 PM IST

Five of the seven state-owned banks that have announced their quarterly earnings so far have reported lower NIM for the September quarter. These banks, however, managed to report a rise in net profit largely on account of bad loan recovery and write-back of provision made in earlier quarters.

HDFC Q2 results: Net profit rises 32% YoY, beats Street’s estimateNov 1, 2021, 04:15 PM IST

The non-bank lender’s total revenue from operations rose 4.1 per cent on-year to Rs 12, 215.95 crore in the quarter.

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