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Robust profit growth for banks in Q1 amid higher credit offtake
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ET Intelligence Group: Aggregate pre-provision and net profits (PPOP and PAT) of listed banks hit a record high led by the public sector banks (PSBs) in the June quarter. Better credit offtake, improvement in net interest margin and lower provisioning for bad loans, all compared with the year-ago quarter numbers, were the major drivers of profit growth.
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