IndusInd Bank Q1 Review - Restructured Assets At 2.7%; Credit Growth Improved: IDBI Capital
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IDBI Capital Report
IndusInd Bank Ltd.’s asset quality remain stable as gross non performing asset slightly inched up to 2.88% versus 2.67% q-o-q (2.53% y-o-y) led by lower slippages; slippage ratio (annualised) stood at 5.2% versus 7.2% q-o-q.
Restructured book increased to 2.7% versus 2% q-o-q which comprises of 55% vehicle, 14% non-vehicle and rest from corporate book.
IndusInd Bank reported collection efficiency at 96% for June month; however due to lockdown in specific states it was lower in April and May month.
Deposit reported strong growth of 26% y-o-y; advances growth improved to 6% y-o-y versus 3% y-o-y (FY21).
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