Photo by Naveed Ahmed via Unsplash.
Banks also witnessed a 13.5% deposit growth for the quarter.
India’s commercial banks saw their net interest incomes (NII) grow 17% year-on-year in the three months that ended in September 2023, according to a report by CareEdge Ratings.
Healthy loan growth and higher yield-on advances helped drive interest income up.
ALSO READ: IRDAI assembles taskforce for bancassurance
Banks also witnessed a 13.5% deposit growth for the quarter.
Net interest margins contracted 14 basis points (bps), however, to 3.13%.
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