• Deposit growth trajectory: Deposit growth slowed to 17% YoY and was flat quarter-on-quarter following deposit rate cuts from 7% to 6.5%, but management expects annual growth to return to 20% supported by strong momentum in April.
• Margins and opex: Realistic net interest margins stand near 5.8% despite a reported 5.93%, while full-year operating expense growth is guided at 13–14% to maintain positive operating leverage against 18–19% book growth.
• Credit cost outlook: Blended credit cost reached the targeted 2.1% for the year with Q4 at 1.65%, and FY27 credit costs are expected to decline further as microfinance stress subsides and delinquencies decrease.
• Capital and profitability: The bank expects 19–20% loan growth and plans interim capital raises until return on assets rises past 1% toward 1.5% and return on equity reaches a self-sustaining 15–16%.