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

Indian Bank - Improved Overall Performance: ICICI Direct

Bookmark

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

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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.