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IndusInd Bank Q3 Results Review - Credit Growth To Be Strong, Earnings Outlook Robust: Anand Rathi

IndusInd Bank's Q3 FY23 profitability improved, with a 1.86% return on asset and stable asset quality.

<div class="paragraphs"><p>Vehicles pass by an IndusInd Bank branch at Prabhadevi, Mumbai, India. (Photo: BQ Prime)</p></div>
Vehicles pass by an IndusInd Bank branch at Prabhadevi, Mumbai, India. (Photo: BQ Prime)

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Anand Rathi Report

IndusInd Bank Ltd.’s Q3 FY23 profitability improved, with a 1.86% return on asset (up 8 basis points QoQ) and stable asset quality. Key positives were-

  1. strong disbursements in the vehicle finance book,

  2. strong retail deposit growth,

  3. sturdy balance sheet with 70% coverage and a Rs 21.9 billion provision buffer (0.8% of loans) and

  4. strong liquidity and capitalisation.

With credit growth expected to be strong and moderating credit costs, IndusInd Bank's earnings are expected to be robust.

Risks: Lumpy slippage in the corporate book; volatility in asset quality from the micro finance institution book.

Click on the attachment to read the full report:

Anand Rathi - IndusInd Bank Q3FY23 Results Review.pdf
Opinion
IndusInd Bank Q3 Review: In-Line Performance Aided By Stable Margins, Asset Quality

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