Banks’ Earnings Disappoint, But NPAs Fall Even Faster Than Expected
The banking sector has had a mildly disappointing quarter, with weak earnings quality offset by improving credit quality. While the drop in non-performing assets (NPA) is good news, it can’t be continued indefinitely and net interest margins continue to come under pressure. Add in price growth that has outpaced the stock market for the last two years and the sector could be headed for a downward correction.
The rapidly increasing earnings void
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