Indian Bank - Improved Overall Performance: ICICI Direct
Indian rupee banknotes being counted. (Photographer: Dhiraj Singh/Bloomberg)

Indian Bank - Improved Overall Performance: ICICI Direct


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.

ICICI Direct Report

Indian Bank reported a good set of Q3 FY21 numbers relative to public sector undertaking peers.

Asset quality on a notional/proforma basis remained steady while a pick-up in loan growth remained a positive.

Net interest income for the bank was up 31% YoY, 4.1% QoQ to Rs 4,313 crore, mainly driven by a rise in margins, controlled asset quality and pickup in loan growth.

Net interest margin for the quarter increased 22 basis points YoY, 7 bps QoQ to 3.13% as a rise in low cost deposits helped in a faster decline in cost of funds versus yields.

Click on the attachment to read the full report:

ICICI Direct Indian Bank Company Update.pdf


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