India Non-Bank Lenders: 1QFY27 Preview: NII Growth Likely to Moderate; Earnings Hold, Credit in Check; 30D Upside CW on LTF/Aptus

Research evidence excerpt

India Non-Bank Lenders: 1QFY27 Preview: NII Growth Likely to Moderate; Earnings Hold, Credit in Check; 30D Upside CW on LTF/Aptus

Inc. or its affiliates received compensation for products and services other than investment banking

services from Aadhar Housing Finance,Aavas Financiers,Bajaj Finance,Bajaj Housing Finance,Cholamandalam Investment and

Finance,L&T Finance Ltd,LIC Housing Finance,Mahindra And Mahindra Financial Services,Shriram Finance Ltd in the past 12

months.

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as investment

banking client(s): Aadhar Housing Finance,L&T Finance Ltd,Shriram Finance Ltd.

Citigroup Global Markets Inc. or its affiliates currently has, or had within the past 12 months, the following as clients, and the

services provided were non-investment-banking, securities-related: Aadhar Housing Finance,Aavas Financiers,Bajaj

Finance,Bajaj Housing Finance,Cholamandalam Investment and Finance,L&T Finance Ltd,LIC Housing Finance,Mahindra And

Mahindra Financial Services,Shriram Finance Ltd.

services provided were non-investment-banking, non-securities-related: Aadhar Housing Finance,Bajaj Finance,Bajaj

Housing Finance,Cholamandalam Investment and Finance,L&T Finance Ltd,LIC Housing Finance,Mahindra And Mahindra

Financial Services,Shriram Finance Ltd.

Citigroup Global Markets Inc. and/or its affiliates has a significant financial interest in relation to Aadhar Housing Finance,Bajaj

Finance,Bajaj Housing Finance,Cholamandalam Investment and Finance,L&T Finance Ltd,Shriram Finance Ltd. (For an

explanation of the determination of significant financial interest, please refer to the policy for managing conflicts of interest

which can be found at www.citiVelocity.com.)