Credit growth of 14-15% in FY24
Management expects domestic advances to grow 14-15% in FY24, supported by robust pipeline and broad-based demand.
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NIM to sustain around 3.47%
Chairman stated effort to retain domestic NIM at 3.47% for the full year, despite sequential volatility.
Cost-to-income ratio improvement via digital and productivity
Management aims to reduce cost-to-income ratio by shoring up income and improving staff productivity through digital sourcing and SBOSS.
Add ~300 branches in current year
Bank plans to add about 300 branches in FY24, focusing on potential areas, alongside digital expansion.
NIM to remain stable within ±10 bps
Management expects net interest margin to stay near current levels, with variation not exceeding 10 bps.
Credit cost guidance of ~0.50%
Sustainable credit cost expected to be around 0.50% going forward.
CD ratio target of 70-72%
Credit-deposit ratio expected to be around 70%, potentially rising to 72%.
Capital raise of INR 25,000 crore approved
Board approved raising INR 10,000 crore Tier 1 and INR 15,000 crore Tier 2 capital.
NIM guidance of 3% for FY26
Management expects domestic NIM to be around 3% for the full year, with a U-shaped trajectory—declining in Q2 and improving from Q3 onwards.
Credit growth guidance of 12-13% for FY26
The bank expects overall credit growth of around 12%, with potential upside to 13% as uncertainties clear.
Cost-to-income ratio below 50%
Management aims to keep the cost-to-income ratio below 50% through the cycle, supported by productivity initiatives like Project SARAL.
ROA above 1% and ROE above 15%
Structural targets of return on assets above 1% and return on equity above 15% through the cycle are reaffirmed.
Domestic NIM to compress 3-5bps more then stabilize
Management expects domestic NIM to decline by another 3-5 basis points from current 3.43% and then stabilize around that level by year-end.
Loan growth guidance of 12-14% for FY24
Management expects overall loan growth in the range of 12-14%, with potential to surprise on the higher side.
SME book target of INR 4 trillion by FY24
SME advances are expected to reach INR 4 trillion by FY24, driven by analytics-led products and improved infrastructure.
CET1 ratio expected above 11% by year-end
With profit plough-back, CET1 ratio is expected to improve to over 11% by March 2024, from current 9.94%.
Credit growth guidance of 14-16% for FY25
Management expects domestic credit growth to remain in the 14-16% range, supported by strong corporate pipeline and retail segments.
Deposit growth target of 10-10.5%
Efforts to mobilize deposits through data analytics and branch-level focus aim to push deposit growth above 10%.
ROA to remain above 1%
Management guides for ROA of at least 1%, with potential upside from non-interest income and cost control.
Credit cost to be around 50 bps
Slippage ratio expected below 60 bps and credit cost below 40 bps, with PCR at 75.66% providing buffer.
NIM to remain above 3% in H2 FY26
Management expects domestic NIM to stay above 3% in Q3 and Q4, supported by CRR cut benefits and continued deposit repricing.
Credit growth target of 12-14% for FY26
The bank aims to achieve 12-14% credit growth for the full year, driven by corporate and retail segments.
OCA recovery guidance of INR 2,000 crore per quarter
The bank continues to target INR 2,000 crore per quarter in recovery from written-off accounts.
Project SARL benefits from April 2026
First tangible benefits from the simplification and centralization project are expected from Q1 FY27.
Loan growth of 14-15% for FY24
Management expects credit growth to be in line with nominal GDP plus 3-4%, targeting 14-15% for FY24.
NIM to remain stable with 2-3 bps dip
Margins expected to be maintained around current levels, with a maximum dip of 2-3 bps.
ROE to exceed 20% going forward
Management expects ROE to sustainably exceed 20% as one-time provisions normalize and productivity improves.
CET1 to get 50 bps boost from investment valuation norms
Revised valuation norms from April 2024 are expected to add ~50 bps to CET1 ratio.
Credit growth of 14-16% for FY25
Management reiterated guidance of 14-16% credit growth for FY25, supported by strong corporate pipeline and retail momentum.
Deposit growth of ~10% for FY25
Deposit growth guidance revised to ~10% for FY25, with focus on improving CASA mix.
NIM above 3%
Management guided NIM to remain above 3% going forward, despite rate cut expectations.
Credit cost of ~50bps through cycles
Credit cost guidance of around 50 basis points through business cycles, reflecting confidence in asset quality.
Credit growth guidance revised to 13-15% for Q4 FY26
Management raised the earlier 12-14% guidance to 13-15% for the current quarter, driven by strong momentum across all segments.
Exit NIM of 3% for FY26 and 3% through cycles
Management reiterated NIM guidance of 3% for Q4 exit and long-term, with no significant upside expected.
ROA guidance of 1% through cycles
Management maintained 1% ROA guidance, emphasizing consistency over cycles despite current outperformance.
Cost-to-income ratio below 50%
Management reiterated target to keep cost-to-income below 50%, supported by operating leverage and digital initiatives.
Loan growth of 13%-15% in FY25
Management expects overall loan book to grow 13%-15% in FY25, with corporate segment growing around 16%.
Staff cost increase of ~INR 6,000 crore in FY25
Additional staff cost due to wage revision is estimated at ~INR 500 crore per month, totaling ~INR 6,000 crore annually.
NIM to be maintained around current levels
Management expects net interest margin to remain stable around 3.4%, with marginal 5-6 bps variation.
Credit cost guidance of 50 bps
Management reiterated credit cost guidance of 50 bps, though internal target is to keep it as low as possible.
Credit growth target of 12-13% for FY26
Management expects domestic credit growth of 12-13% in FY26, driven by corporate pipeline and SME/agriculture segments.
NIM protection around 3%
Despite repo rate cuts, management aims to protect domestic NIM at around 3% through deposit rate adjustments.
Cost-to-income ratio below 50-51%
Management guided to keep cost-to-income ratio below 50-51% by focusing on income growth and digital efficiencies.
Equity capital raise up to INR 25,000 crore (enabling resolution)
Board approved raising equity capital up to INR 25,000 crore, contingent on business needs and market conditions.
Domestic NIM above 3% for FY27
Management guided for domestic net interest margin to remain above 3% for the full year FY27, supported by stable repo rates and asset mix improvement.
Credit growth of 13%-15% for FY27
Management expects credit growth in the range of 13%-15% for FY27, driven primarily by RAM (retail, agriculture, MSME) segments.
Credit cost guidance of 50bps for FY27
Management reiterated credit cost guidance of 50 basis points for FY27, confident in asset quality despite potential West Asia conflict impact.
Cost-to-income ratio below 50%
Management aims to keep cost-to-income ratio below 50% for FY27, with efforts to contain overheads and improve operational efficiency.