Led by robust growth in balance sheet along with healthy growth in NII and fee income, net profit of IndusInd Bank (IIB) came in line with our expectations in 2QFY17. Its NII grew by strong 33.4% yoy & 7.7% qoq to Rs14.6bn led by robust growth in high-yielding retail loan portfolio along with decline in CoF. Overall, the Bank's business growth improved as credit grew by 26.4% yoy & 5.6% qoq and deposits surged by 38.9% yoy & 10.4% qoq during the quarter. Loan book growth was led by strong growth in consumer book and healthy growth in corporate book. Fresh slippages declined to Rs730mn in 2QFY17 from Rs940bn in 1QFY17 that led to further moderation in headline gross NPA to 0.90% and net NPA to...