Edelweiss' research report on IndusInd Bank
IndusInd Bank’s Q1FY19 earnings were in-line with expectations and reaffirms our confidence that the bank is structurally poised to achieve Phase IV targets and achieve scale with quality. Loan growth momentum of 29% (more broad-based), sustained CASA (SA grew >50% YoY), and operating leverage supported 20% YoY NII and >27% YoY operating profit growth.
Outlook
Merger update with BhaFin (likely conclusion in Q2FY19). Given strong track record, superior RoA and well-capitalised position, execution risks are minimal. Maintain ‘BUY’ with TP of INR2,080 (3.9x FY20E P/ABV).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
