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.
IDBI Capital Report
IndusInd Bank Ltd.’s asset quality improved as gross non-performing asset declined to 2.27% versus 2.48% QoQ led by lower slippages and higher write offs.
Restructured book declined to 2.6% versus 3.3% QoQ. Advances growth improved to 12% YoY versus 10%YoY (Q3 FY22); deposit growth stood at 15% YoY.
Management guided for credit growth of 18-20% (FY23) i.e moving back to planning cycle five from FY23 onwards.
Net interest income grew by 13% YoY (up 5% QoQ) while net interest margins improved QoQ.
Profit after tax grew by 55% YoY due to decline in provisions (down 22% YoY). IndusInd Bank maintains overall provision of Rs 33.3 billion as standard contingent provisions.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR