Union Bank of India - Business Growth To Remain Modest: Motilal Oswal
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Motilal Oswal Report
We hosted a roadshow for the Union Bank of India. The management highlighted the progress made on the overall book and shared its outlook on the way ahead. Here are the key takeaways:
India is expected to post the fastest economic growth among the major economies.
credit growth is showing signs of revival, with credit growth at ~7%.
the retail, micro, small and medium enterprise, and agri book is driving overall demand, with traction likely to remain healthy.
overall, systemic credit growth is likely to be 7–8%/12–13% for FY22/FY23.
the recovery environment has improved significantly in the current quarter. Thus, Union Bank of India expects to recover ~Rs 60 billion in H2 FY22. So the total reduction is expected to be ~Rs 160 billion in FY22.
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