Company Update : Indian Bank Ltd By Motilal Oswal Financial Services Ltd
Business growth steady; CD ratio remains flat
Indian Bank released its 4QFY25 business update. Following are the key takeaways:
* The total business of the bank surpassed INR13.25t and grew 8.4% YoY/ 5.1% QoQ.
* Gross advances grew 10.2% YoY (up 5.2% QoQ) to INR5.88t and were driven by the RAM segment that rose 4.8% QoQ to INR3.5t. Overall, advances growth was largely in line with our estimates of 5.3% QoQ.
* Deposits grew 7.1% YoY/ 5.0% QoQ to INR7.37t, in line with our estimates of 4.9% QoQ.
* Overall business growth has been largely in line. We expect a high singledigit dip in NIM for 4QFY25. The bank’s CD ratio on a calculated basis stood largely flat at 77.5% (up 29bp QoQ/ 265bp YoY).
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