IndusInd Bank Q2 Results Review - Multiple Stress Led To Earnings Miss: DRChoksey

Deven Choksey Research Report

IndusInd Bank Ltd.'s performance in Q2 FY25 fell short across all financial metrics. The bank faced challenges primarily due to sector specific pressures, notably in the microfinance sector, which has experienced rising delinquencies and sluggish growth in loan disbursements.

Furthermore, unsecured lending, including credit cards, has been affected by a cautious approach to risk management, leading to slower asset growth and reduced margins.

Although the bank has set a credit cost guidance of 110-130 basis points for FY25E, the actual outcome will largely hinge on the microfinance sector's performance, which may influence credit costs in the near term.

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