October 17, 2016 / 17:30 IST
Arihant Capital's research report on IndusInd Bank
Indusind Bank Ltd. (IIB) posted healthy growth both on the top-line and bottom-line front. Net profit grew by 26% YoY and stood at Rs 704 crs. Loan book grew at 26% YoY. The ratio of corporate to consumer loans after regrouping stood at 52:48.
Indusind Bank has continued to show sustained progress across all vectors. Microfinance and non-vehicle finance loan books should be the new revenue growth drivers for the bank in the coming quarters. We have HOLD rating with a price target of Rs 1,292 based on 3.4x FY 18E ABV.
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