• Loan growth: Advances grew 42%, with FCNR leverage contributing 10%; excluding that, growth was around 30%. Management cited 22 to 25% growth over the last 2 quarters as a baseline and expects to grow faster than the system by a couple of percentage points.
• Margin outlook: Management expects a small NIM pullback in the near term, with the FCNR margin impact visible in Q3, followed by improvement from Q4 as higher-return advances are deployed and liability costs ease.
• Insurance income: If the proposed IRDAI guidelines are implemented as drafted, bancassurance fee income could be affected by 50-60%. The bank is looking to grow wealth management, NRI, trade and other fee income to offset the impact.
• JLG collections: Collections were close to 99.5 consistently for the last 2 quarters, and management reported no stress so far despite weather concerns. Maharashtra exposure is very low; Karnataka is in the range of 1% or less than 1% of the total book.
• Returns outlook: RoA was 0.92%; management expects an increase of 20, 30 bps over the next 2, 3 quarters, potentially settling around 1.2, 1.3. It said RoE may take some time to improve as excess capital is deployed.