IndusInd Bank Ltd. share price target

IIB reported an in line operating performance, with total revenue growing 12% YoY. Asset quality ratios improved sequentially, even as stress in the MFI portfolio remained elevated. Loan book grew 3.5% QoQ, led by 6.5% growth in the Corporate book. The CV book also reported a sequential growth, led by Utility Vehicles. Its Tractor and Credit Card portfolio also witnessed healthy sequential growth. Fresh slippages stood at INR25.98b (4.7% annualized), led by MFI. The management prudently increased coverage in the MFI business. It also...

IndusInd Bank (IIB) hosted a concall led by Mr Sumant Kathpalia, MD & CEO, to discuss the concerns around the whistleblower complaint regarding the evergreening of loans in its MFI subsidiary (Bharat Financial Inclusion Limited BFIL) and the disbursements of loans without customer consent. Here are the key takeaways: The management has strongly refuted the allegations around the evergreening of loans, citing it as inaccurate and baseless. It has further clarified the inadvertent disbursements to ~84k accounts happened without customer consent due to a technical glitch. However, of these, only 26k clients were...

IndusInd Bank (IIB) hosted a concall led by Mr Sumant Kathpalia, MD & CEO, to discuss the concerns around the whistleblower complaint regarding the evergreening of loans in its MFI subsidiary (Bharat Financial Inclusion Limited BFIL) and the disbursements of loans without customer consent. Here are the key takeaways: The management has strongly refuted the allegations around the evergreening of loans, citing it as inaccurate and baseless. It has further clarified the inadvertent disbursements to ~84k accounts happened without customer consent due to a technical glitch. However, of these, only 26k clients were...

Recoveries on track to achieve pre-covid levels IndusInd Bank (IIB), a part of the Hinduja Group, provides loans for vehicles, property, etc. in its consumer finance division, while the corporate banking...

IndusInd Bank has posted strong 72% growth in the net profit to Rs 1113.53 crore for the quarter ended September 2021 (Q2FY2022). The bank has improved asset quality remained healthy, while also posted 1 bp sequential improvement in the net interest margins (NIM) to 4.07% in Q2FY2022. The non-interest income growth of the bank was strong, which is mainly...

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IndusInd Bank, which is one of our top picks in the banking space, reported robust numbers during the quarter.

IndusInd's asset quality remain stable as GNPA declined to 2.77% vs 2.88% QoQ led by higher upgrades and recoveries. However, Restructured book increased to 3.6% vs 2.7% QoQ which comprises of 50% Vehicle, 15% non-vehicle and rest from corporate book. Bank reported collection efficiency at 98% for Sept month vs 96% for June month. Deposit reported growth of 21% YoY; advances growth improved to 10% YoY vs 6%YoY (Q1FY22). Management guided for credit growth of 16-18% CAGR in next 2 years which is the key monitorable along with CV cycle uptick expected in H2FY22. NII grew by 12% YoY (up 3% QoQ) while NIMs remain flat QoQ. Non-interest income grew by 18% YoY...

IndusInd Bank has 1,910 branches, and 2,700 plus ATMs spread across geographic locations

For Q1FY22 standalone, NII income reached Rs. 3,564cr (7.7% YoY, 0.8% QoQ) with NIM of 4.06% (-22bps YoY, -7bps QoQ). CASA ratio reached 42.0% (vs 41.7% in Q4FY21). Loan book stood at Rs. 210,727cr (-0.8% QoQ), Deposits grew to Rs. 267,233cr (4.3% QoQ)....