Bearish signal on weekly chart
The domestic economy was slowing even before the Covid-19 pandemic, with growth weakening steadily since peaking in last quarter of fiscal 2018. While the slowdown was initially linked to credit concerned at NBFC, weak auto sales and soft capex trends resulted in further weakening of economic conditions.
Focus on quality corporates
The corporate banking fee growth remained subdued during the year as the bank continued to focus on better rated corporate clients.
Cleaning the BB pool
The asset quality metrics improved during the fiscal, with reduction in NPA ratio year on year. During this fiscal quantum of low rated pool of BB and below accounts ( excluding investment and non- fund based exposure ) reduced and stood at Rs 6,528 crores as compared to Rs 7,467 crores at the end of fiscal 2019.