Healthy performance; credit cost moderates further

Company
25 Jan 2024
5 Min read 
  • Indian Bank reported a healthy performance with a 52% YoY increase in PAT.
  •  Asset quality continued to improve with a decline in GNPA and NNPA ratios.
  •  The bank's NIMs declined slightly by 3bp QoQ to 3.49%.
  •  Loan growth remained broad-based, with healthy trends across all business segments.
  •  The bank expects to deliver an RoA/RoE of 1.2%/16.7% and has a BUY rating with a TP of INR525.
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