IndusInd Bank Q4 Review - Asset Quality Improved; Restructured Book At 2.0%: IDBI Capital
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IDBI Capital Report
IndusInd Bank Ltd.’s asset quality improved with gross non-performing asset at 2.67% versus 2.93% QoQ (2.45% YoY) as recoveries/upgrades were higher; while slippage ratio (annualized) increased to 7.2% versus 5.0% QoQ.
Restructured book stood at 2% (versus earlier guided at 1.8%) which comprises of 65% vehicle, 17% non-vehicle and rest from corporate book.
Bank reported collection efficiency at 98% for March quarter versus 97% QoQ; however due to lockdown in specific states it declined by 1% in April month.
Deposit reported strong growth of 27% YoY while advances grew by 3%YoY.
Net interest income grew by 9% YoY (up 4% QoQ) while net interest margins remain stable QoQ.
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