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IndusInd Bank

Q2FY20 :

Price when result was announced : 1250

- NIM ( Net Interest Margin) is highest in last 14 quarters at 4.10%

- GNPA ( Gross NPA) has increased to 2.19% compared to 1.09% in Q2FY19

- Provisions are highest removing Q4FY19 result where IL&FS impact was adjusted.

- Fee Income showed lower growth on sequential basis at 3.85% and Net Income grew at 2.86%

- Deposit to Advance ratio is at 1.05 compared to high of 1.15. This indicates bank is slowing the pace of lending.

- Advance sequential growth is at 1.86% that is lowest in past 14 quarters which might come lower as the bank turn cautious in lending.

Recommendation : SELL


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