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Five key trends from Q2 earnings of banks
Mahindra & Mahindra Financial Services | CMP: Rs 218.95 | The share price surged over 13 percent even as the company reported a weak set of earnings numbers for September quarter. On the aggregate level, gross bad loans shrunk by Rs 50,000 crore year on year (YoY) for 30 listed banks that have released quarterly earnings, a Moneycontrol analysis shows. Public sector wins in asset quality Public sector lenders reported the biggest fall in bad loan stock on a YoY basis. Central Bank of India and Punjab & Sind Bank reported a near 30 percent reduction. Profitability boost limited While the bottom line of banks saw a 29 percent increase YoY at the aggregate level, not all lenders were fortunate enough to show a net profit boost. The commentary from most bank managements on margins is mixed, though. Source - Money Control
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