NBFCs are expected to face pressure on margins due to liquidity issues and high funding costs in Q3 of 2024. Microfinance companies and those with high unsecured loans may see payment delays. Analysts predict slowed credit growth, elevated credit costs, and deteriorating asset quality, exacerbated by subdued vehicle financing and regulatory scrutiny.
Tamilnad Mercantile Bank Q1 profit jumps 35% on strong income growth
Tamilnad Mercantile Bank reported a 35% year-on-year rise in June quarter net profit to Rs 412 crore, driven by higher income and net interest income.