Senior investment analyst

Pallavi Deshpande

Equity Bottom-Up

<h2>Results in line with expectations, with Quality taking a backseat  </h2><p><a href="https://www.smartkarma.com/entities/1558" target="_blank" data-smartkarma-citation="entities:1558:1">IndusInd Bank Ltd (IIB IN)</a> 4Q18 results were in line with consensus expectations, however, we were disappointed by the slower-than-expected growth in fee income (+12% YoY vs. 22% in 9M18) and a decline in the provision coverage.</p><p>Meanwhile, NIMs were steady at 4% as the weakness in retail yields was offset by higher corporate yields (+11 bps QoQ). Management attributed the pressure on retail yields to some irrational competition in…</p>

Results in line with expectations, with Quality taking a backseat  IndusInd Bank Ltd (IIB IN) 4Q18 results were in line with consensus expectations, however, we were disappointed by the slower-than-expected growth in fee income (+12% YoY vs. 22% in 9M18) and a decline in the provision coverage.Meanwhile, NIMs were steady at 4% as the weakness in retail yields was offset by higher corporate yields (+11 bps QoQ). Management attributed the pressure on retail yields to some irrational competition in…

IndusInd Bank: Fee Income and Retail Yields Under Pressure

Indusind Bank

IndusInd Bank: Fee Income and Retail Yields Under Pressure