IndusInd Bank Q4 Review - Strong Earnings Performance: Prabhudas Lilladher

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.IndusInd Bank Ltd.’s earnings at Rs 13.6 billion (our estimate: Rs 11.7 billion) were a beat to estimates driven by higher loan growth of 12.4% YoY and the resultant fee income, better net interest income and lower provisions. While gross slippages were a bit higher at 3.7% of loans (bulk from retail), healthier recoveries as a result of enhancing collection efficiency across segments drove sequential asset quality improvement. We believe recovery trends could sustain while slippage run-rate should moderate in-line with IndusInd Bank's management guidance as bulk of the stress has already been recognized. The telecom exposure has been fully provided for while real estate has been performing well. With a stronger balance sheet focus is back on credit growth. We expect a loan compound annual growth rate of ~15% over FY22-24E with declining provision costs, while expanding loan-to-deposit ratios over the same time frame might drive uptick in margins..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

IndusInd Bank Q4 Review - Strong Earnings Performance: Prabhudas Lilladher

IndusInd Bank Q4 Review - Strong Earnings Performance: Prabhudas Lilladher

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