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Systematix Research Report
In Q4 FY22, IndusInd Bank Ltd.'s net interest income and pre-provision operating profit were broadly in-line with our estimates, bottom line was ahead of our estimates due to lower provisions.
IndusInd Bank's credit yield (adjusted for credit cost) on average credit risk-weighted assets improved to 530 basis points (from 520 bps in Q3 FY22), this led to improvement in NII and PPOP.
IndusInd Bank's core operating profitability (PPOP adjusted for other interest income and capital gains) - average assets ratio improved to 299 basis points (from 289 bps on QoQ and 309 bps on YoY).
On asset quality front, most of the credit products (barring business banking, loan against property and tractor) witnessed reduction in gross non-performing asset (in %) on QoQ basis.
Restructured loan book fell to 250 bps (from 330 bps in Q3 FY22).
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