The bank’s Q4FY18 NII has improved by 18.3% yoy to Rs1,637.7cr against Rs1,384.9cr in corresponding period last year. The net profit was below estimates, which has declined by 58.7% yoy to Rs132 cr against Rs319.7cr yoy. GNPA for Q4FY18 stands at 7.37% against 6.27% qoq, which has increased by 110 bps. NNPA for the quarter stands at 3.81% against 3.3% qoq, which has increased by 51bps.
Credit growth for FY18 was at ~24% yoy and the management guided for 20% yoy credit growth for FY19E. This growth was mainly due to RAM segment (Retail, Agri & MSME), which grew by 27% yoy.
The corporate to retail ratio for the bank in FY18 stood at 42:58, which it intends to bring down to 40:60 in FY19E.
Management expects that its slippages in FY19E to come down. Further, it has guided for 6% GNPA by FY19E end. Sell to ARCs, credit growth and resolution of NCLT cases would aid in GNPA decline.
The stress assets ratio has come down from 10.74% to 8.65% yoy.
The total security receipts outstanding is at Rs2,600cr for FY18 end.
The slippages for Q4FY18 came at Rs2,098cr as against Rs955cr in the corresponding period last year.
NIM for the quarter came at 2.9%, up by 5bps qoq from 2.85%.
Indian Bank is currently trading at Rs. 317.55, down by 24.4 points or 7.14% from its previous closing of Rs. 341.95 on the BSE.
The scrip opened at Rs. 340 and has touched a high and low of Rs. 345 and Rs. 306.95 respectively. So far 87,82,411 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.
Please use the temporary password sent on your email id or mobile no.
Update Mobile no.
Why you need to update your Mobile number ?
By providing verified mobile number we provide more exclusive information in the website.
Update Mobile no.
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.