Company Update : Indian Bank Ltd by Motilal Oswal Financial Services Ltd
Business growth in line; CD ratio increases QoQ
Indian Bank released its 1QFY26 business update. Following are the key takeaways:
* The bank’s total business crossed INR13.44t, registering a YoY growth of 10.2%.
* Gross advances grew 11.3% YoY (up 2% QoQ) to INR6t, driven by the RAM segment, which grew 16% YoY to INR3.6t.
* Deposits grew 9.2% YoY/0.9% QoQ to INR7.44t, largely in line with our estimates of 1.5% QoQ.
* Overall business growth has been largely in line with our estimates. CD ratio on a calculated basis stood largely flat at 78.3% (up 88bp QoQ/1.9% YoY).
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