NIM has contracted for KBL primarily on account of increase in share of large corporate loans, wherein there has been outsized focus on highly rated clients. Share of large corporate loans has increased 250 bps YoY to 48.7% of total loans.
PNB Housing Finance (PNBHF) reported 4QFY19 results with the key pointers being: (1) Spread expanded 3 bps QoQ to 2.59% with cost of borrowings easing more than yield (2) Disbursements declined 8% QoQ to Rs 85.62bn with a view to maintaining liquidity.
HCL Technologies’ (HCLT) 4QFY19 revenue growth at 3.3% in constant currency (CC) terms was 70bps below our estimate but likely ahead of street estimate. However, its 4QFY19 EBIT margin of 18.9% was 140bps below our estimate.
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