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Anand Rathi Report
IndusInd Bank Ltd.’s Q3 FY23 profitability improved, with a 1.86% return on asset (up 8 basis points QoQ) and stable asset quality. Key positives were-
strong disbursements in the vehicle finance book,
strong retail deposit growth,
sturdy balance sheet with 70% coverage and a Rs 21.9 billion provision buffer (0.8% of loans) and
strong liquidity and capitalisation.
With credit growth expected to be strong and moderating credit costs, IndusInd Bank's earnings are expected to be robust.
Risks: Lumpy slippage in the corporate book; volatility in asset quality from the micro finance institution book.
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More Research Reports On IndusInd Bank's Q3 FY23 Results Review
Earnings Progression On Track; Re-Rating To Continue: Motilal Oswal
Stable Asset Quality; Restructured Portfolio Moderated To 1.25%: Dolat Capital
Robust Credit Growth; Net Interest Magins Improved: IDBI Capital
Material Rise In Cost Of Deposits Indicative Of Wholesale Deposit Dependence: Yes Securities
Inline Performance; Steady Growth To Drive Valuation: ICICI Direct
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This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
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