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What did we say about NorthBridge's asset quality last quarter?

Based on the NorthBridge Q3 Cadence Report (22 Sep 2023), NorthBridge Financial reported stable asset quality metrics for the quarter:📄 NorthBridge Q3 Cadence Report · p.8–11

GNPA held steady at 1.8% — unchanged QoQ, well below the sector average of 2.4%
Net NPA at 0.9%, reflecting strong provision coverage of 51%
Stage 2 assets (SMA-1 and SMA-2) declined 40bps to 3.1% of the book, signalling early resolution of stress
Management guided for GNPA to remain below 2.0% through FY24, contingent on no further macro shocks

Note: However, note that the RBI provisioning circular (fired 12m ago) may compress Tier-1 capital by ~45bps — this is not yet reflected in the Q3 report.

10:32 AM