Indian Bank share price target

Indian bank is a mid-sized bank in the public sector, with a loan book size of Rs. 3.9 lakh crore and deposit base of Rs. 5.2 lakh crore. Allahabad Bank was merged with Indian Bank on 1st April 2020 and operates through a network of 6003 branches. Strong growth in NII (Net Interest Income) by 31% YoY due to 42bps improvement in Net Interest Margin....

Background: Indian Bank features among the mid-sized banks in the public sector space. As of 3QFY21, the bank had business of about 9.1tn operating through a network of 6,003 branches. Prior to amalgamation with Allahabad bank, Indian Bank's footprint was largely skewed towards the southern states of Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. Now the combined entity has a stronger presence in Central and Eastern states of India too. With RoA of ~0.26%, the bank features amongst the most profitable banks in the PSU space. The bank has...

Indian bank is a mid-sized bank in the public sector, with a pre-merger loan book size of ~Rs.2,06,000cr and deposit base of ~Rs.2,60,000cr. Allahabad Bank was merged with Indian Bank on 1st April 2020 and operates through a network of 6062 branches....

respectively on an amalgamated basis, driven by lower slippages, higher treasury gains and lower other opex. Moratorium levels for TLs at 20% as of July-end based on one unpaid monthly instalment looks superior compared with peers. Based on two unpaid installments, the ratio stands at 7%. Despite the 160 bps erosion in CET1 ratio owing to the amalgamation with Allahabad bank, bank's CET1 ratio at 10.3% as of 1QFY20 remains the best amongst PSBs. With low capital consumption (RWA/assets at...

Higher slippages offset a decline in cost of funds keeping margins flat at ~2.9%. Hence, NII growth came in at 14% YoY to | 1955 crore. Other income rose 133% YoY to | 1039 crore, led by one-off income tax refund of | 296 crore and healthy growth in fee based income. Healthy topline & steady opex aided operational performance with PPP at | 1919 crore, up 67.3% YoY. Excluding one-off tax refund, growth in PPP remains healthy at 41.5% YoY to | 1623 crore. Despite higher provision and tax outgo (as the bank shifted to new tax regime), earnings came at | 247 core, up 62% YoY....

Despite the macroeconomic headwinds Indian bank's total advances increased by 9% YoY to 1.9tn during the quarter. The domestic loan book increased by 8.2% YoY, buoyed by growth in RAM (Retail, Agricultural and MSME) segment, which was up by 18% YoY (3%...

Indian bank is a mid-sized bank in the public sector, with a loan book size of ~Rs1,93,000cr and deposit base of ~Rs257,000cr. The bank operates through a network of 2,887 domestic branches largely distributed across the Southern states. The merger of Indian bank and Allahabad bank to make it the 7th largest public sector bank, with nationwide presence. Pre provision profit grew at 67% YoY with Net Interest Income growing at 14% and other income at 134%....

In 2QFY20, Indian bank's total advances increased by 12.7% YoY to INR 1.94tn. The domestic loan book grew by 12.5% YoY (+ 5.3% QoQ), driven by strong growth in RAM (Retail, Agricultural and MSME) segment, which was up by 17.3% YoY (6.5% QoQ). The bank's corporate lending segment registered slightly muted growth of 5.8% YoY, however the management expects to achieve 12% growth in the coming quarters. The bank's management has guided for overall loan book growth of 15-18% for FY20E,...

Indian bank is a mid-sized bank in the public sector, with a loan book size of ~Rs194,000cr and deposit base of ~Rs253,000cr. The bank operates through a network of 2,884 domestic branches largely distributed across the Southern states. The merger of Indian bank and Allahabad bank to make it the 7th largest public sector bank, with nationwide presence. The Net Interest Income (NII) grew at 7.6% YoY due to higher growth in cost of funds compared to that of the interest yield....