IndusInd Bank Q3 Review - Prudence-Led Provisioning Not Necessarily A Negative: Nirmal Bang
A guard stands at the entrance to an IndusInd Bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

IndusInd Bank Q3 Review - Prudence-Led Provisioning Not Necessarily A Negative: Nirmal Bang

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Nirmal Bang Report

IndusInd Bank Ltd. reported an operating profit of Rs 29.6 billion, up 7% YoY and 4% QoQ.

The overall net operating income growth was subdued at 4% YoY mainly on account of 8% YoY decline in non-interest revenue.

Sequentially, net interest income growth picked up, rising by 4% QoQ (up 11% YoY) despite 4 basis points net interest margin compression (QoQ) on account of interest reversal on pro-forma slippages.

The impact of compression in overall yields was 30bps QoQ (55bps in consumer finance, 7bps in corporate banking), which was to some extent negated by the decline in CoD (down 24bps QoQ, 115bps YoY).

Click on the attachment to read the full report:

Nirmal Bang Indusind Bank-Q3FY21 Result Update- 30 January 2021.pdf

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