Net Interest Margin (NIM) was marginally lower at 3.92% against 3.97% on re-pricing of loan book coupled with higher cost of funds. CASA ratio of IIB is stable at 44%, grew by 37% YoY. Bank's GNPA/NNPA ratios are stable at 1.15%/0.51% on QoQ basis. Earnings are expected to sustain a healthy growth of 30% CAGR on the back of robust loan growth at 28% CAGR with stable NIMs quality. We With a stable earnings outlook, we value IIB at a target P/BV of 3.7x and...