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With the Supreme Court’s standstill order on asset classification continuing to be in force, the reported non-performing asset numbers for Q3 FY21 are unlikely to be useful.
Instead, like Q2 FY21, we would look towards management commentary on pro-forma NPAs, expected slippages as and when the standstill order is over and restructuring pipeline, to gauge future trends as far as asset quality is concerned.
Overall, for our banks’ coverage, we expect operating profit growth (YoY) of 16.2% YoY and 2.7% QoQ.
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