Comments
IndusInd Bank did not disappoint investors. Above-industry loan growth, strong capitalisation, healthy growth in fee income and steady deposit growth sum up the bank’s performance in the latest June quarter.
There was also an uptick in bad loans though, by 20 per cent sequentially, due to two accounts that slipped from the restructured book to bad loans. However, the overall stressed asset book (NPA plus restructured) has remained stable at 1.2-1.3 per cent of loans.
The bank’s provision cover that inched up from 58 per cent in the March quarter to 60 per cent in the June quarter is also a positive. IndusInd’s double-digit loan growth is heartening at a time when the overall industry growth continues to languish at 4 per cent levels. IndusInd continued its good run, with profit growing by 26 per cent y-o-y in the latest June quarter. The predictability in earnings has kept investor interest up in the stock.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.