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W h lh l h f 25% f h b kb NIM b d
IndusInd Bank
We expect healthy loan growth of ~yoy for the bank but to be under pressure on account
of the increase in cost of deposit for the bank.
However, we expect healthy growth in the NII by 24.3% yoy in absolute value. We expect healthy
growth in other income on account of the recent initiatives taken by the bank like credit card, etc.
We expect the cost to income ratio of the bank to remain as per the Q1FY12 number.
We have built in slightly higher provisions in case retail loan portfolio turns into NPA on account of
the increase in interest rates. However, we expect the asset quality to remain more or less on the
stable side.
We expect the profits of the bank to grow by ~39% yoy.We expect the return ratios to remain on
thehealthier side.
Currently, the stock is available at a P/ABV of ~2.3x FY13E.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
W h lh l h f 25% f h b kb NIM b d
IndusInd Bank
We expect healthy loan growth of ~yoy for the bank but to be under pressure on account
of the increase in cost of deposit for the bank.
However, we expect healthy growth in the NII by 24.3% yoy in absolute value. We expect healthy
growth in other income on account of the recent initiatives taken by the bank like credit card, etc.
We expect the cost to income ratio of the bank to remain as per the Q1FY12 number.
We have built in slightly higher provisions in case retail loan portfolio turns into NPA on account of
the increase in interest rates. However, we expect the asset quality to remain more or less on the
stable side.
We expect the profits of the bank to grow by ~39% yoy.We expect the return ratios to remain on
thehealthier side.
Currently, the stock is available at a P/ABV of ~2.3x FY13E.
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