• Margin and NIM outlook: Management prioritized profitability over volume with Q4 NIM reaching 2.8%, and guided Q1 NIM between 2.6% and 2.7% while targeting 2.5% to 2.6% for the full year amid geopolitical uncertainties.
• Asset quality improvement: Gross NPA improved to 2.15% from 2.47% and Net NPA declined to 1.08% from 1.22%, with further recovery expected from Q1 onwards as negotiations on large-ticket NPA resolutions conclude.
• Retail growth initiatives: To target double-digit growth in disbursements and AUM, the company is finalizing a co-lending policy, onboarding business aggregators, and hiring approximately 200 marketing personnel in Q1.
• Borrowing mix shift: Floating-rate borrowings increased to 52% from 45% of the portfolio to benefit spreads, while bank borrowings currently represent about 38% to 40% of the total borrowing book.