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