Banks, Insurers, Asset Managers, Brokers, Fintech Q2 FY25 Earnings Preview: Yes Securities

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Yes Securities Report.Banks Asset quality: Fresh slippages in Q2 FY25 would generally be broadly stable on sequential basis for our coverage banks. We see slippages for most banks to remain at similar levels, sequentially, in Q2 FY25 as the residual restructured book will be reasonably well behaved. Furthermore, the macro environment due to elevated interest rates has already caused some incipient build-up of stress but slippages should broadly stabilize at these levels. For few banks slippages will be lower due to seasonality. Sequential evolution of provisions would be a function of not only slippages but also of recoveries and upgrades and preexisting provision buffers. Hence, we see a meaningful rise in provisions, sequentially, for Bank of Baroda and RBL Bank Ltd. and a marginal rise for DCB Bank Ltd. and City Union Bank Ltd. whereas we see flattish trend in provisions for HDFC Bank Ltd. and Indian Bank Ltd.Provisions would decline sequentially for CSB Bank, SBI, Axis Bank, Kotak Mahindra Bank, Federal Bank, ICICI Bank, IDFCF Bank, IndusInd Bank and Karur Vysya Bank..Life InsurersNew business growth: Growth trend for two-months Q2 FY25 (July and August 2024) is publicly available on the IRDA website and we expect new business growth for the whole of Q2 FY25 to be broadly along similar lines, penciling in QoQ APE growth of 52%, 43%, 34%, 29% and 10% for Max Life, SBI Life Insurance, ICICI Prudential, HDFC Life and LIC respectively due to seasonality.New business margin: We expect value of new business margin to expand 250bps QoQ for Max Life, 160 bps QoQ for LIC and 15 bps QoQ for SBI Life due to idiosyncratic reasons. We expect VNB margins to remain largely similar sequentially for ICICI Prudential and HDFC Life..Click on the attachment to read the full report:.IT Services Q2 Result Preview – Slowly Shaping Up; Recovery Expected: Axis Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Banks, Insurers, Asset Managers, Brokers, Fintech Q2 FY25 Earnings Preview: Yes Securities

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