Company Update : Indian Bank by Motilal Oswal Financial Services Ltd
Steady business growth; CD ratio increases marginally Indian Bank released its 1QFY27 business update. Following are the key takeaways
* Total business grew 13.6% YoY/2.2% QoQ to INR15.28t.
* Gross advances increased by 13.9% YoY/2.7% QoQ to INR6.85t (in line with our estimate of 15.1% YoY/2.7% QoQ), largely driven by healthy traction in the RAM segment, which grew 14.8% YoY/3.2% QoQ to INR4.17t.
* Deposits grew 13.3% YoY/1.8% QoQ to INR8.43t (largely in line with our estimate of 13.9% YoY/2.5% QoQ), led by robust growth in CA deposits at 26% YoY/9% QoQ and 13% YoY (flat QoQ) growth in SA deposits. As a result, CASA ratio stood steady at 39.64% vs. 39.67% in 4QFY26.
* Overall business growth was in line with expectations, while deposit growth was largely driven by CA deposits. As a result, calculated CD ratio (on gross advances) inched up to 81.3% from 80.6% in 4QFY26.
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