Published Date: 28/08/2024
- We expect credit growth to reach 14% in 2024 with a projected GDP growth of 6.5% for the whole year.
- In 2H2024, we forecast that NIM of most banks in 2H2024 will be flat or lower than it was in 1H2024 leading to lower growth of NII and TOI, so listed banks are expected to have less room for provisioning and writing off bad debt.
- We maintained our forecast that earning of banks under our coverage in FY2024 will growth by 15.3% yoy
- Our stock picks are VPB , VCB and TCB
