IndusInd Bank Q3 Results Review - Credit Growth To Be Strong, Earnings Outlook Robust: Anand Rathi
IndusInd Bank's Q3 FY23 profitability improved, with a 1.86% return on asset and stable asset quality.
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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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