IndusInd Bank's (IIB) 2QFY18 PAT grew 25% YoY (in-line) to INR8.8b. Strong loan growth of 24% YoY (+26% YoY in corporate loans) and a steady NIM of 4% helped keep NII growth steady at 25% YoY. Robust NII, coupled with steady fee income growth of 22% YoY, enabled the bank to deliver impressive core PPoP growth of 28% YoY. Opex continues to trail total income growth, as IIB sees improving productivity at its branches. Both corporate (+26% YoY) and consumer (+22% YoY) loans exhibited healthy growth. Vehicle loan growth recovered to 17% YoY, and was well supported by...