Sector Other Financial Services - Latest news, views and updates

Other Financial Services

SECTOR | 29 Aug 2025

Credit Card Data Update: Sector Report

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Other Financial Services

IDBI Capital

Total card spends saw a strong rebound during July'25, coming in at 1.94L Cr versus 1.83L Cr in June'25. Credit card spends rose by ~6% MoM (vs a ~3.6% decline in June'25), though YoY growth moderated to ~12.2% (vs ~15.2% in June'25). Cards-inforce stood at ~111.6Mn as of July'25, up ~6.8% YoY but broadly stable on a MoM basis. Net new card additions picked up to ~4.2 lakhs (vs just ~0.07 lakhs in June'25), led by HDFCB (~3.15 lakhs), AXISB (~1.2 lakhs) and SBI (~0.8 lakh). Transaction volumes also improved, rising ~6% MoM (vs ~2% decline in June'25) and ~27% YoY (vs ~28% in June'25). Festive seasonality and steadier macros point to firmer spends in the coming months, with UPI-linked credit lines expanding acceptance at QR rails and...

Other Financial Services

SECTOR | 17 Aug 2025

Thematic: Affordable Housing Finance

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Other Financial Services

Minerva Capital Research Solutions

Potential financing opportunity in affordable housing segment is est. INR 45 tn. by 2030 which is 3.5x increase from existing loan volume of INR 13 tn. driven by PMAY-2.0, interest rate subsidies, favorable Govt. policies like RERA, rapid urbanization.

Other Financial Services

SECTOR | 14 Jul 2025

Life Insurance Companies Monthly Business UpdateJune-2025

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Other Financial Services

Deven Choksey

India’s life insurance industry saw a decrease in new business premiums in June 2025, with total collections decreasing 3.1% YoY to INR 4,11,171 Mn, compared to INR 4,24,337
Mn in June 2024. The Life Insurance Corporation of India (LIC) reported a 14.7% YoY decrease in number of policies sold. The decline reflects industry-wide challenges, including
regulatory changes, economic conditions, and shifting consumer preferences. Insurers are focusing on expanding distribution channels and introducing new products.

Other Financial Services

SECTOR | 09 Jul 2025

Housing Finance Companies Apr-Jun'25 Earnings Preview Competition from...

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Other Financial Services

Prabhudas Lilladhar

QoQ/10.0% YoY. Disbursal run-rate of LICHF/CANF is a key monitorable, given weak credit flow in the last few quarters. NIM for coverage HFCs could fall by 3bps QoQ to 3.13%. NII may remain flat QoQ and grow by 9.0% YoY to Rs27.8bn due to faster repricing of loans. Other income could reduce by 44.3% QoQ to Rs1.6bn owing to seasonality which would be partly offset by 20.2% moderation in opex to Rs5.56bn mainly led by fall in other opex (-28.2% QoQ). Hence, PPoP could be flat QoQ at Rs23.9bn. We see provisions inching up QoQ to 19bps from 15bps as Q1 sees slower...

Other Financial Services

SECTOR | 08 Jul 2025

Financial Services Apr-Jun'25 Earnings Preview Guarding against a...

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Other Financial Services

Prabhudas Lilladhar

started to taper off (highlighted in Q4FY25), and we expect the trend to continue in Q1FY26. Our outlook remains positive backed by improving margin better as they have multiple levers to deliver growth. BAF has reported steady AUM growth of 25% YoY- stable NIM and improving credit cost outlook will be...

Other Financial Services

SECTOR | 08 Jul 2025

Asset Management Companies Apr-Jun'25 Earnings Preview Good quarter...

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Other Financial Services

Prabhudas Lilladhar

Good quarter owing to healthy equity growth Equity QAAuM for the industry is likely to see healthy growth of 7-8% QoQ/2122% YoY in Q1FY26 due to higher MTM gains as equity market bounced back in May'25 & Jun'25. Over Mar'25 to May'25 closing eq+bal AuM for the industry grew by 8.3% (6.9% attributable to MTM) while overall AuM grew by 9.8% to Rs72.2trn. Equity/debt mix in May'25 industry MAAuM was 54.3%/16%. Equity flows saw a blip in Apr'25/May'25 (may uptick in Jun'25) due to market volatility; excl. NFOs net equity flows were Rs474bn (Rs964bn in Q4FY25). We expect AMCs in our coverage to see equity QAAuM growth of 7.7% QoQ...

Other Financial Services

SECTOR | 08 Jul 2025

Q1FY26E Financial Services Earnings Preview

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Other Financial Services

Deven Choksey

The NBFC sector is anticipated to register moderate loan growth in Q1 FY26E. Although unsecured lending may witness some slowdown due to tightening risk controls and regulatory oversight, segments including gold loans and Loan Against Property (LAP) are expected to maintain healthy traction, reflecting shift to a more balanced lending strategy amid evolving credit and interest rate dynamics.

Other Financial Services

SECTOR | 08 Apr 2025

Housing Finance Companies Jan-Mar'25 Earnings Preview Blip in...

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Other Financial Services

Prabhudas Lilladhar

is a key monitorable, given weak credit flow in the last few quarters. NIM for coverage HFCs could fall by 6bps QoQ to 2.96%. NII may inch up by 0.7% QoQ to Rs26.2bn. Opex could rise by 6.1% QoQ to Rs5.95bn due to other opex (+14.2% QoQ) partially offset by a 2.1% decline in employee cost. Hence, PPoP could be flat QoQ at Rs22.4bn. We see provisions normalizing to 19bps (vs -0.02bps in Q3FY25) as LICHF had seen a write-back last quarter. PAT...

Other Financial Services

SECTOR | 08 Apr 2025

Asset Management Companies Jan-Mar'25 Earnings Preview Volatile equity...

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Other Financial Services

Prabhudas Lilladhar

Industry MAAuM as at Feb'25 stood at Rs67.6trn and equity/debt share was 53.4%/16%. Equity flows continue to remain strong; excluding NFOs, Jan'25 and Feb'25 together saw net flows of Rs702bn compared to Rs1,207bn in Q3FY25. Equity QAAuM growth is likely to decline in Q4FY25 by 4.0-4.5% due to equity correction in Jan'25 & Feb'25; industry QAAuM de-grew by 1.7% QoQ to Rs67.4trn (+3.6% QoQ in Q3FY25), while closing equity AuM (incl. bal) saw a QTD de-growth of 9.3% in Feb'25. We expect AMCs in our coverage to see equity QAAuM de-growth of 4.3% QoQ...

Other Financial Services

SECTOR | 09 Jan 2025

HFCs

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Other Financial Services

Prabhudas Lilladhar