Q1FY22 Result Update - Indian Bank - ICICI Direct

Indian Bank reported relatively better performance.

- Advances up 6.2% YoY to Rs. 3.9 lakh crore, deposits up 10.4% YoY to Rs. 5.4 lakh crore

- NII up 19.8% QoQ, 3% YoY at Rs. 3994 crore. NIMs up ~51 bps QoQ to 2.85%

- GNPA down 16 bps QoQ to 9.69%, restructuring up 73 bps QoQ to 1.4%

Key triggers for future price performance

- Expect credit growth at 10-12%; liabilities franchise healthy

- Continued focus on RAM to aid margin improvement & earnings

- Guidance to keep credit cost <2% and slippages less than 3% provide comfort.

- Accumulated loss from merger to provide benefit on tax outgo for two years

For details, click on the link below: Link to the report

Shares of INDIAN BANK was last trading in BSE at Rs. 140 as compared to the previous close of Rs. 137.7. The total number of shares traded during the day was 140588 in over 1669 trades.

The stock hit an intraday high of Rs. 141.9 and intraday low of 139.2. The net turnover during the day was Rs. 19712655.

Source : Equity Bulls

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