Indian Bank - Decent Quarter, Asset Quality Holds: Anand Rathi

A customer waits to deposit Indian 100 rupee banknotes at a counter inside an Axis Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg).

Indian Bank - Decent Quarter, Asset Quality Holds: Anand Rathi

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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.

Anand Rathi Report

Lower credit cost and a deferred tax asset reversal led to strong earnings growth for Indian Bank, with Q4 return on asset at 1.1%.

Asset quality surprised positively with reported FY21 non performing asset ratios being lower than in FY20.

Given its healthy capitalisation and a favourable credit-deposit ratio, the bank has adequate resources to rapidly gain market share from its peer banks.

Risks: lumpy slippages from the corporate book; lower-than-expected loan growth.

Click on the attachment to read the full report:

Anand Rathi Indian Bank Company Update.pdf

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