Indian Bank share price target

Share of Bulk Deposits to Total Deposits (domestic) came in at 4.46% for the current quarter. NIM increased marginally by 6 bps QoQ to 2.33% standing its ground, even as the stress through AQR was fully provisioned for during this quarter. Cost of deposits decreased by 11bps...

ICICI Securities Ltd | Retail Equity Research Overall results were disappointing owing to higher-than-expected provisions. Asset quality woes continued with highest ever net...

Indian Bank's global advances grew a muted (4.4%YoY, 0.6%QoQ) in 3QFY16 to INR 1260bn with contribution from Corporate (52%), MSME (15%). Agro (19%) and Retail (14%). Overseas business contributes 6% of the total advance. Deposits grew (18.9%YoY, 1.1%QoQ) to INR 1746bn. Term deposits contracted (16.3%YoY, 0.3%QoQ) to INR 1229. CASA grew (11.9%YoY, 4.6%QoQ) led by growth in SA (14%YoY, 5.7%QoQ), while CA growth was weak (0.8%YoY). NIM contracted (5 bps QoQ) to 2.3% amid interest reversal on higher slippages. Cost...

Noninterest income growth was strong led by growth in core fee income and good recoveryfromwrittenoffaccounts. NIMsdeclined16bpsyoyto2.31%duetoadeclineinyieldonadvancesledbyinterest...

27,561 through a network of 2412 branches; 8,361 Indian Bank's footprint is largely skewed towards the southern states of Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. With RoA of ~0.7%, the bank features amongst the most profitable banks in the PSU space. Credit to agriculture constitutes ~18% of the loan book, while...

Noninterest income growth was strong led by 20% yoy growth in core fee income, whileportfoliogainscameinatRs1bn(Rs370mninQ2FY15). NIMsdeclined41bpsyoyto2.26%,mainlyduetodeclineinyieldonadvancesledbycut...

(13bps YoY, 23bps QoQ) on the back of higher growth in low yielding agri segment. However, cost of funds decreased 7bps QoQ to 6.94% led by stable CASA share of deposits and shedding of bulk deposits. Asset Quality declined marginally with GNPAs at 4.65% as fresh slippage moderated to INR 4.9bn Vs 10.3bn in 4QFY15. GNPAs were largely contributed by (Priority sector forming 20% of GNPAs). Recoveries during the quarter were INR 1.78bn. Outstanding restructured advances increased to INR 125bn with fresh restructuring of INR 978mn during the quarter largely led by SME segment. During the quarter INR...

due to subdued credit growth (+6.5%). Noninterest income grew 75% led by strong recoveryinwrittenoffaccounts.NIMdeclined8bpsyoyto2.36%ledbyadeclineinyieldon advancesandyieldoninvestments.Operatingexpenseswerehigher,asemployeeexpenses...

Background: Indian Bank features among the mid-sized banks in the public sector space, as of 4QFY15 the bank had business of about INR 2,980bn. The Bank operates through a network of 2412 branches; Indian Bank's footprint is largely skewed towards the southern states of Tamil Nadu, Karnataka, Andhra Pradesh and Kerala. With RoA of ~0.7%, the bank features amongst the most profitable banks in the PSU space. Credit to agriculture constitutes ~18% of the loan book, while...