IndusInd Bank Q3 Review - Healthy Operating Metrics; Credit Trends In-Line: Dolat Capital
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Dolat Capital Report
IndusInd Bank Ltd.’s operating metrics continued to strengthen with largely stable net interest income despite impact of interest reversal (down by 4 basis points to 4.12%), healthy sequential growth in fee lines (31% QoQ), and contained opex.
Gross non-performing assets increased by 67 basis points QoQ to 2.97% on a pro-forma basis.
Pro-forma slippages at 4.7% for the quarter and 3% for nine months FY21 were within expectations, with 30% of it from unsecured retail (personal loan/credit card/business loan), 20% each from vehicle and micro finance institution portfolios, and 15% each from secured retail and corporate books.
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