IndusInd Bank Q3 Results Review - Robust Credit Growth; Net Interest Margins Improved: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .IDBI Capital Report.IndusInd Bank Ltd.’s credit growth improved to 19% YoY versus 18% YoY (Q2 FY23) led by growth across the segments. Management guided for credit growth of 20-25%. Micro finance institution portfolio which was key concern area reported improvement in credit growth (up 8% YoY) however asset quality deteriorated (gross non-performing asset 3.75% versus 2.9% QoQ). Deposit growth stood at 14% YoY versus 15% YoY (Q2 FY23). Asset quality remains stable as GNPA stood at 2.06% versus 2.11% QoQ led by lower slippages. Restructured book declined to 1.25% versus 1.5% QoQ. Net interest income grew by 18.5% YoY (up 4.5% QoQ); net interest margins improved by 17 basis points YoY. Profit after tax grew by 69% YoY due to decline in provisions (down 36% YoY). IndusInd Bank maintains overall provision of Rs 21.9 billion as standard contingent provisions..Click on the attachment to read the full report:.IndusInd Bank Q3 Results: Net Profit Jumps 58%, NII Rises 18.5%.More Research Reports On IndusInd Bank's Q3 FY23 Results Reviews.Earnings Progression On Track; Re-Rating To Continue: Motilal OswalStable Asset Quality; Restructured Portfolio Moderated To 1.25%: Dolat Capital.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

IndusInd Bank Q3 Results Review - Robust Credit Growth; Net Interest Margins Improved: IDBI Capital

IndusInd Bank Ltd.’s credit growth improved to 19% YoY versus 18% YoY (Q2 FY23) led by growth across the segments.

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