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IndusInd Bank Ltd. reported a stable Q4 FY21, with an in line performance.
On the business front, deposits grew 7% QoQ, while loan growth is seeing a revival.
On the asset quality front, gross non-performing asset ratio improved sequentially and stood at 2.67%/0.69%, with provision coverage ratio ~75%.
In addition to this, the bank holds a Covid-19 related provision buffer at 75 basis points of loans.
Restructured book stood at 2% of loans (slightly higher than the guided 1.8%), largely from the vehicle portfolio.
With the rise in Covid-19 cases and a recent lockdown in a few Indian states, we remain watchful as micro finance institution and commercial vehicle are the most impacted segments.
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