Indian Bank - Impressive Q3 Performance: Dolat Capital 
A stack of Indian one-hundred rupee banknotes are arranged for a photograph at a bank in India. (Photographer: Dhiraj Singh/Bloomberg)

Indian Bank - Impressive Q3 Performance: Dolat Capital 

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 and pre-provision operating profit growth of 31% and 10% YoY respectively on a merged basis, in line with expectations.

Pro-forma gross non-performing assets were marginally higher at 10.38% against 10.2% in the previous quarter, with pro forma provision coverage ratio at 69%.

The bank has made provisions of 20% against standstill NPAs. Restructuring pipeline was at 1.62% of standard advances.

This excludes micro small and medium enterprise restructuring under the earlier relief programme at 1.1% of loans.

Majority of restructuring proposals (~85%) were from the corporate book, including the bank’s exposure to Future Group.

Click on the attachment to read the full report:

Dolat Capital Indian Bank Q3FY21 Result Update.pdf

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