Q1 Banking Results LIVE Updates: Rajeev Mantri appointed Axis Bank CFO; IDBI Bank NIMs fall

Q1 Banking Results LIVE Updates:

HDFC Bank and ICICI Bank, two of the largest private lenders of the country have reported their numbers for the June quarter, which left a little to be desired. While HDFC Bank's core NII and profit parameters were below expectations, ICICI Bank's profitability was aided by lower provisions than last year. While ICICI Bank's margins were stable, HDFC's are at record low. The street will be keenly awaiting commentary on asset quality, margins, the ECL provisioning impact and in case there is any stress that will emerge from the rural portfolio considering the uneven impact of the monsoons. ICICI Bank has been the most resilient among the lenders, outperforming them in terms of returns, HDFC Bank has started to play catch-up after multiple overhangs were cleared. The street will also await any potential CEO announcements from Kotak Mahindra Bank as well. Watch this space for all the LIVE banking sector results.