BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Indian Bank reported net interest income growth of 32% YoY on a merged basis, in line with estimates.
Pre-provision operating profit growth at 40% YoY was better than estimated due to higher fee income and elevated treasury gains.
Decline in gross non-performing assets by approximately100 basis points to 9.9% was led by high write-offs of approximately Rs 29 billion and muted slippages at 40 basis points (annualized).
Including NPA standstill, gross NPA and slippages would stand at 10.2% and 1.5% for the quarter.
Loan growth was flattish sequentially, and up 3% YoY for the amalgamated entity.
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