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You are here : IndiaNotes >> Research & Analysis >> Companies >> IndusInd Bank Ltd. >> Research

IndusInd Bank Q3FY18: PAT grows 25% YoY; Buy

Suhani Adilabadkar | 19 Jan, 2018  | Follow Author | Add to my Favourites 
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All revenue segments  reported positive growth YOY  with other banking business reporting the highest growth rate of  67%.  Retail  segment  outpaced Corporate  by  growing  23%  YOY  whereas  corporate  segment  jumped  2%  in  the current  December  quarter.  Sequential  growth  was  stagnant  for  corporate  whereas  retail  grew  at  8%.  Retail  and Corporate book have a yield differential of about 5%  leading to  higher retail revenues.  Treasury segment  exhibited negative  growth  sequentially  due  to  hardening  of  yields  whereas  on  yearly  basis,  rise  was  11%  in  the  current December quarter FY18.


IndusInd  Bank  is  also witnessing strong traction through its digital initiatives in savings accounts,  personal  loans,  credit  cards  &  mobile  banking business.  IndusInd  Bank  has  announced  its merger  with  Bharat Financial on 14th October 2017. The bank has received  approval from  Competition  Commission  and  is  awaiting  RBI  nod.  With double digit profitability growth, stable CASA, provisions reined in,  credit growth above industry average,  strong core fee, lower slippages  &  credit  costs  and  Bharat  Financial  Inclusion  in  its stable,  IndusInd  Bank  has  fortified  its  position  in  private  sector banking. Thus, we recommend BUY for the stock for medium and long term investment with target price of Rs 1925.

 


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About Suhani Adilabadkar

Suhani Adilabadkar is a Research Analyst registered with SEBI ((INH200003240)) She has done PGDBA (Finance), MS (Finance) and a Fellowship from Insurance Institute of India. She maintains a blog where she publishes research reports across industries - oasisfundamentals.blogspot.in.


For more information please write in to [email protected]


Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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