India’s commercial banks reports 17% higher net interest incomes

Banks also witnessed a 13.5% deposit growth for the quarter.

India’s commercial banks saw their net interest incomes (NII) grow 17% year-on-year in the three months that ended in September 2023, according to a report by CareEdge Ratings.

Healthy loan growth and higher yield-on advances helped drive interest income up.

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Banks also witnessed a 13.5% deposit growth for the quarter.

Net interest margins contracted 14 basis points (bps), however, to 3.13%.