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INDIAN BANK: Key takeaways
Expects to sustain margins at 3.5-3.8% and does not expect much pressure on margins in
the near term. Willing to slow down growth if deposit costs rise further without
commensurate lending rate increases.
Asset quality trends are comfortable. Expects net NPLs to be at 0.5% by March 2011
(currently at 0.6%) and has a target of 0% by March 2012. While the management has
kept this internal target, they will be comfortable if NPLs remain between 0-0.5% on net
basis. Recovery trends remain healthy.
The bank had reported pension / gratuity costs of just Rs2.8 bn during 3Q results.
However, the management is now of the view that the actual estimates will be more than
2X of this amount and might have to take a larger hit during 4Q.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
INDIAN BANK: Key takeaways
Expects to sustain margins at 3.5-3.8% and does not expect much pressure on margins in
the near term. Willing to slow down growth if deposit costs rise further without
commensurate lending rate increases.
Asset quality trends are comfortable. Expects net NPLs to be at 0.5% by March 2011
(currently at 0.6%) and has a target of 0% by March 2012. While the management has
kept this internal target, they will be comfortable if NPLs remain between 0-0.5% on net
basis. Recovery trends remain healthy.
The bank had reported pension / gratuity costs of just Rs2.8 bn during 3Q results.
However, the management is now of the view that the actual estimates will be more than
2X of this amount and might have to take a larger hit during 4Q.
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