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Several top private banks in India, including IndusInd Bank, reported a strong increase in Q2 profits due to continued loan growth. IndusInd Bank saw a 22% jump in profit, while Paytm and Yes Bank also experienced positive results. However, Wipro, an IT company, reported a surprise drop in Q2 revenue. SBM Bank India's loan growth has slowed, and its low-cost current account deposit level declined. Meanwhile, PNB Housing Finance posted a 46% surge in Q2 profit on strong loan demand. Paytm's Q2 loss narrowed as revenue jumped 32% on strong loan growth.
India's PNB Housing Finance posts 46% surge in Q2 profit on strong loan demand https://t.co/4laSAMFzfZ https://t.co/i5sAYVaPCD
India's PNB Housing Finance posts 46% surge in Q2 profit on strong loan demand https://t.co/8QNScL0cYN https://t.co/PSfrqOkiR8
Top private Indian banks report strong Q2 profit rise as loan growth continues https://t.co/CRthxZIAdB https://t.co/YzcsY4qTO8
India's Yes Bank posts 47% rise in Q2 quarterly profit https://t.co/48ncQFcw0F https://t.co/ix4PaKOWEr
India's Paytm gets Q2 results boost from strong loan growth https://t.co/z64BKNw2Pm https://t.co/HXqp7sq5cf
#Paytm parent One 97’s Q2 loss narrows to Rs 291.7 crore Revenue from operations for the Noida-based financial services company grew almost 32% from a year earlier and 7.5% from the previous quarter to Rs 2,518.6 crore. https://t.co/PFvjnyxPqJ
India's Paytm gets Q2 results boost from strong loan growth https://t.co/OcN8a3X8Qe https://t.co/Yvm5hDhCpH
India's Paytm Q2 loss narrows as rev jumps 32% on strong loan growth https://t.co/7AZdA7vqOA https://t.co/rp2zNcCRuJ
India's Wipro reports surprise Q2 revenue drop https://t.co/Rj0cGQu99V https://t.co/gXGAJAMy04
India's IndusInd Bank reports 22% jump in Q2 profit https://t.co/qUfNDg5zFn https://t.co/lC1Ps6Zdao
SBM Bank India’s loan growth has slowed—it was 11% YoY in 2022-23 as against 49% in 2021-22. The bank’s low-cost current account deposit level also declined. The fintech-first approach seems to have backfired. So, where does it go from here? Read more: https://t.co/jTE7caiyKd https://t.co/GVbtlbvjKF