MUMBAI: Even though the pandemic forced Indian banks to increase their provisions and take a hit on profits, there was one heartwarming factor in the first quarter results – the basic operating performance of most banks was encouraging.
Net interest income for the top five private sector lenders posted double-digit year-over-year growth. Sequentially, too, basic income growth has been decent. In fact, for the nation’s largest lender, the State Bank of India, net interest income grew 17% sequentially and 16% year-over-year.
Net interest income is basically the interest that a bank earns from its main business of lending. When the loan […]
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