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IndusInd Bank Ltd. reported an in line earnings performance. However, credit cost in Q1 FY22 stood elevated on account of higher slippages in the retail portfolio.
Net interest income growth remained muted due to moderation in loan growth.
Net interest margin declined by 7 basis point q-o-q to 4.06% due to excess liquidity.
Deposit trends continue to remain strong, led by retail deposits.
IndusInd Bank’s fresh slippages stood at Rs 27.6 billion (annualised 5.2% of loans), predominantly led by retail (Rs 23.4 billion), with higher slippages in the micro finance institution/vehicle segment.
This was largely due to the hampering of collections over April-May 2021.
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