Yes, hi. Good evening, sir. Thanks for taking my question.
Sir, firstly, on the ECL, I think you spoke about the one -time adjustment rough numbers about that. But, say, on a run rate credit cost basis, have you evaluated what can be the impact? So , like, you're saying that credit cost is below 0.4% is your guidance for FY27. But if you were to implement ECL, how much, say, would the impact be on your run rate credit cost?
Congrats on the quarter. My question is on the -- in Slide 17, you're showing your overall retail banking, your retail advances, and that is -- the overall retail book is flat Y -o-Y. Now I picked up at the beginning, you mentioned that there is some depos it repricing left, the repo rate cut pressures look like they are behind. Would it be fair to assume that you will now start pushing the pedal on this, which you have not been doing over the last year or so?
Again, now on the mix, right? Where are we right now in our journey, I mean, you've made great progress on, say, shifting the mix towards medium yield, as you've called out. Where are we as any medium-term target? Because I was just taking the analyst meet presentation that you made in February last year. The classifications, I think, are slightly different. Any numbers you'd call out in terms of the mix shift with low, medium, high that you're calling out in Slide 19.
Firstly, again, on the NII line or margin. So the NII is down quarter -on-quarter, right, about 2.2%. So I want to understand, there is loan growth in the quarter. So how exactly are we saying that margins are flat quarter-on-quarter because that would imply that interest earning advances are down, right, on an average basis quarter-on-quarter?
Okay. So actually -- so for example, last quarter on a flat loan book quarter-on-quarter you had shown a NII growth. Is it something related to that as well? You had shown 3% quarter -on- quarter NII growth. So is it that the base was inflated because we're just trying to understand this quarter-on-quarter movement because that is not tallying the margin that you are reporting.
Yes hi, good evening. Thanks for taking my question and congrats on a great quarter. Firstly, I just wanted to understand again how we should think about margins going into next year. So , I heard you call out that there is a day count benefit this quarter and benefit of lower reversals , but the benefit of lower reversals should stay, right, because slippages are say moderating year -on-year. So basically how to think about that going ahead?
Okay, okay. So basically these one-offs will not be there and cost of funds have more or less bottomed out and should increase from here?
Yes, hi. Thanks for taking my question and congrats on the quarter. First question is on the OPEX movement quarter-on-quarter. Could you give some broad color on the various segments that are driving this so that we can understand this a little better? Because I can see both employee OPEX and non-employee both are up significantly quarter-on-quarter?
Thanks, Gaurav. Very clear. So, maybe apart from the promotional one, the others are more or less BAU, right? Because we are talking about more growth from here on.
Congratulations on the quarter. Firstly, the question is on the -- so last time, you had called out issues in the South -based LAP segment in terms of asset quality. So how is that portfolio behaving as of now? I can’t see that in the presentation.
Okay. So it is not a problem anymore as such. Or it is normalized already?
Hi, thanks for taking my question. First question is on opex growth. So it's at 4% Y-o-Y, which is really a smaller franchise that is growing. So what explains that and other operating expenses, I think, down on a Y-o-Y basis. So what is happening there?
Got it. How to think about opex growth going ahead or cost to income, cost to assets, any of those things?
Congrats on a resilient performance in what would have been a tough quarter. So , if you could comment a bit about the monthly deposit accretion since it's been 2 months since we had that event. And of course, we've also cut down our SA rates. So how are we looking in terms of our monthly deposit accretion, customer additions, etcetera? And are we back to a normal run rate? Or do you think we will get back to our normal growth pace from, say, first half of next year on deposits?
So sir, we should get back to, I'd say, normal 20%...
Just to go back to how we are looking at the exit for this year. So what are we broadly looking at in terms of, so you mentioned on NIM, 5.8% plus. We were talking about 0.9% to 1% ROA by Q4. Does that still stand broadly? And in terms of credit cost, if you could just broadly talk about where we will be looking at by Q4?
Sure. Fair. So broadly, you're saying that in terms of credit cost, since you're holding on to that guidance of 2.05% to 2.1%, so which means credit cost in second half should be, say, 1.6%, 1.7% is what you're talking, right, and more or less that level in Q4?
Yes, hi sir. Thanks for taking my question. Firstly, I wanted to ask just to clarify once again on NIM. Is there any one -off or seasonality or any such thing in the margin quarter -on-quarter or you are just saying it is mainly the mix and the December rate cut?
Okay. Sir, one thing I can see is the interest on Reserve Bank of India balances that is down, that is mainly the decline in LCR, is it? Just clarifying on that number. So that number is down INR 500 plus crores on a Y-o-Y basis.
Firstly, on the quarter-on-quarter opex growth, so there is no meaningful change in our channel sourcing or payments to DSAs or any such thing, right, because the quarter- on-quarter opex growth is up. And if not, what is driving this? Some colour and how we should think about this going ahead.
Fair enough. So largely all business as usual. So nothing…
Yes. Hi, sir. Thanks for the opportunity and congrats on the quarter. Sir, I just wanted to understand from your MSME exposure, how much of the book is exposed to say exporting MSMEs? And do you see any signs? So of course, you know, textiles is one of the biggest sectors for us. But do you see any pressure that could come through from some of the announcements that are coming through today, for example? Yes.
Okay. So INR1,200 is the total exporting...
Congrats on the quarter. Sir, I wanted to ask what is the LCR for this quarter? And what is the impact of the LCR circular for us that applies from FY '27?
Sorry, sir, 133% was the average for last quarter...
Firstly, on -- so I heard Mr. Kumar call out 200 branches per year, if I'm not wrong, for the next 2 years. What does that mean for opex run rate for FY '27 and '28?
So INR7,200 crores is your annual opex run rate. So you're saying only INR60 crores, INR70 crores extra impact. Did I get that correctly?
Firstly, on -- so I heard Mr. Kumar call out 200 branches per year, if I'm not wrong, for the next 2 years. What does that mean for opex run rate for FY '27 and '28?
So INR7,200 crores is your annual opex run rate. So you're saying only INR60 crores, INR70 crores extra impact. Did I get that correctly?
Yes, hi. Thanks for taking my question and congrats on the quarter. Firstly, on the fee income, could you once again explain what exactly has happened driving this weaker core fee? Because I see everything, I mean, across the break-up that you've given on retail fees, it's broadly flat or down Y-o-Y. So, what is driving that a nd within that payment is up 20% Y-o-Y despite cards and card volumes, card spends being lower. So, what is driving the higher payment fees?
Jaideep just wanted to understand within this what exactly is lagging that is going to catch up that makes you confident that we are going to get back to – because it’s soft on a Y-o-Y basis?
Good evening. Thanks for taking my question. Firstly, on funding cost. So, quarter-to-quarter, your cost of funds is, as there is not much movement. Why is that the case? Because your CASA ratio is up. We have taken substantial cuts in our sa vings rate as well. So, why is cost of funds not yet showing improvement? And related to that, how to think about NIMs going into second half and next year? Because I think at the beginning of the cycle, we had called out that because of the mix shift, the Bank would lose 70-80 basis point of NIMs. And it looks like we are already there. So, how to think about NIMS from here on?
Your CASA ratio is up, quarter-on-quarter and there is a sav ings cost reduction …
Yes, hi. Thanks for taking my question. Question again on margin. So, in the first half, of course, we cut our savings rate more than peers, but our margin compression over the last couple of quarters, if I look across the private banks, it has been larger compared to your peers, right? Now, moving to the second half, we are possibly looking at maybe the consensus view is one or two more rate cuts from the treasury. What are the levers we have to defend margin because as we see it right now, secured book is going faster than unsecured? So, that is an added pressure. Yes, that is one. And the second one is your yield on investments is down sharply quarter-on-quarter. Is there something to read into that? That is a calculated n umber that I have. Yes, just trying to understand that because we have also reported a treasury loss.
Fair enough. The other part on the investment book. Page | 27
Good evening. Thanks for taking my question. My first question is on the quarter P&L on the NII line. So, in the PPT, we called out that we have seen the margin expansion quarter-on-quarter. There is also a loan book growth quarter-on-quarter. So, you know, 1% Q-o-Q NII growth doesn't tally with that. So, can you take us through the math for that? That's my first question.
Devang, I meant quarter-on-quarter. I mean, we are showing that there is a 4-basis point improvement in margin.
Congratulations to Mr. Bakhshi. But my first question is related to that. So , what is the thought process behind the Board seeking a two -year extension as opposed to a full three-year extension? Because there is nothing holding us back from a regulatory perspective. So how should the stakeholders read into that? Yes, that's my first question.
Fair enough. So just if I can follow up on that. So, one might read into it that this might be his last term. So that's sort of, that's the sort of signal that comes through. So, anything you want to add to that?