Q4 FY20E results, for most banks, is going to be a continuation of Q3’20 trends – banks reporting stable results will continue to do so and those reporting weak trends, especially on asset quality, will see no relief. The impact of the loss of business in the last fortnight of March due to the lockdown will be minimal for large banks and mostly restricted to select line items like card spends, bancassurance, retail disbursements etc.
