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IDBI Capital Report
IndusInd Bank Ltd.'s credit growth improved to 18% YoY versus 12%YoY (FY22); deposit growth stood at 13% YoY.
Management guided for credit growth of 18-20% (FY23) i.e moving back to planning cycle five from FY23 onwards. Asset quality remains stable as gross non-performing asset stood at 2.35% versus 2.27% QoQ led by higher slippages.
Restructured book declined to 2.1% versus 2.6% QoQ. Net interest income grew by 16% YoY (up 3.5% QoQ) while net interest margins remain stable.
Profit after tax grew by 60% YoY due to decline in provisions (down 30% YoY). IndusInd Bank maintains overall provision of Rs 30 billion as standard contingent provisions.
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