• NIM outlook: Quarterly net interest margin was 2.55%, within the guided 2.5 to 2.6% range. Management expects it to be maintained or improve, citing 53% of the book linked to the repo rate, a 25 basis-point rate reprieve and a lag in deposit repricing.
• FCNR impact: FCNR deposits were less earning in percentage terms, but management said their impact was limited relative to the 13 lakh plus crore asset-side book. It also replaced around 40, 50,000 crore of high-cost term deposits every month, generating synergy of around 1%.
• CASA share: CASA stood at 29%, against guidance of 30 to 32%; management attributed the shortfall to 55,000 crore garnered quickly under FCNR(B), all of which went into term deposits.
• Deposit growth: Management said individual savings and retail term deposits grew well. Excluding FCNR(B), deposit growth was 10.97, close to 11%, and it expects that trend to be maintained.