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After years of underwhelming performance, the Indian banking sector has clearly outperformed in 2022,

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and Emkay Global Financial Services Ltd. expects the credit growth in Q4FY23 to be greater.

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The public sector banks (PSB) have also joined the celebration and recently outperformed even private banks.

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If a new Covid wave doesn't hit it, we anticipate credit growth to be greater in 4QFY23.

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Additionally, given the good consumption trend and improved corporate credit growth, credit growth is likely to stay negative in FY24.

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While a better asset quality resolution could further fuel banks' profitability and, hence, stock gains, the margin trajectory is also anticipated to stay robust.

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According to the research, after a fall in August and September due to RBI regulations relating to the cancellation of inactive cards, 

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the total net-card addition moderated in November 2022, but it was still strong at 1.3 million (vs. 1.7 million in October 2022) to 80.7 million.

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In our opinion, card addition will continue to remain healthy, with card players operating at full capacity, unless a new wave of Covid disturbs the commercial landscape. 

In Q4FY23, Indian banks' credit growth should stronger, according to Emkay Global

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