IndusInd Bank Q3 Results Review - NIMs Stable QoQ; Deposits Growth Lower: IDBI Capital

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.IndusInd Bank Ltd. consistently maintained the net interest margins (at 4.3%) for last five quarters backed by improvement in yields. Credit growth remains strong led by growth across the segments. We expect 18% compound annual growth rate (FY23-26) loan growth backed by retail portfolio. Deposit growth slowdown further, while management guided for credit-deposit ratio to remain in the historical range of 85-90%. Micro finance institution portfolio which remains key concern area reported stable gross non-performing asset (at 4.4% versus 4.5% QoQ). Profitability remains strong led by lower credit cost as management utilized Rs 2.20 billion of contingent provisions. IndusInd Bank maintains overall provision of Rs 13 billion as contingent provisions. We have moved to FY26E estimates and expect earnings per share to grow at 18% CAGR (FY23-26). We maintain ‘Buy’ rating with a new target price of Rs 1,900 (Rs 1,675) at price/adjusted book value of 1.9 times FY26..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

IndusInd Bank Q3 Results Review - NIMs Stable QoQ; Deposits Growth Lower: IDBI Capital

Continuation of business strategy under the new CEO has resulted in navigating through asset quality concerns better.

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IndusInd Bank Q3 Results Review - NIMs Stable QoQ; Deposits Growth Lower: IDBI Capital

Continuation of business strategy under the new CEO has resulted in navigating through asset quality concerns better.

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