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IndusInd Bank Q1 Review – Rise In Net Slippages Underlines Crystallization Of Stress: Yes Securities


BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IndusInd Bank Ltd.’s gross slippages amounted to Rs 22.50 billion (annualised slippage ratio of 3.6%) and recoveries and upgrades amounted to Rs 6.04 billion.

Net interest margin at 4.21% inched up 1 basis points QoQ aided by a slightly higher rise in yield on assets compared with that for cost of funds.

IndusInd Bank’s advances grew 3.7%/17.7% QoQ/YoY driven sequentially by mid and small corporates and few retail segments.

Total opex rose 4.0%/20.1% QoQ/YoY, employee expenses rose 0.3%/8.6% QoQ/YoY and other expenses rose 5.3%/24.5% QoQ/YoY.

Core fee income rose 8.6%/47.1% QoQ/YoY driven sequentially by general banking fees.

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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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