Company Update : Indian Bank by Motilal Oswal Financial Services Ltd
Business growth better than estimate, CD ratio declines marginally
Indian Bank released its 2QFY26 business update. Following are the key takeaways:
* Total Business of the bank crossed INR13.98t. Total business of the bank grew by 12.4% YoY.
* Gross advances grew 12.9% YoY/ 3.5% QoQ to INR6.22t (ahead of our estimate of 2% QoQ growth for Net advances), driven by healthy traction in RAM segment which grew 16.3% YoY/ 4.1% QoQ to INR3.78t.
* Deposits grew 12% YoY/ 4.3% QoQ to INR7.76t (better than our estimate of 2.8% QoQ), led by robust growth in CA deposits at 7.4% QoQ and healthy growth in SA deposits at 3.8% QoQ.
* Overall business growth has been better than our estimates. CD ratio (based on gross advances) declined marginally to 80.1% (80.8% in 1QFY26).
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