{"id":155070,"date":"2023-10-19T08:49:38","date_gmt":"2023-10-19T12:49:38","guid":{"rendered":"https:\/\/44.250.171.167\/?p=155070"},"modified":"2023-10-19T08:49:39","modified_gmt":"2023-10-19T12:49:39","slug":"indusind-bank-ltd-q2-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/indusind-bank-ltd-q2-fy24-earnings-conference-call-insights\/","title":{"rendered":"IndusInd Bank Ltd Q2 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from IndusInd Bank Ltd (INDUSINDBK) Q2 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Loan Growth Momentum<\/strong>\n<ul>\n<li>Loan growth continues to be strong at 21% YoY and 5% QoQ, driven by retail segment growing 25% YoY and 6% QoQ.<\/li>\n<li>Retail growth driven by healthy disbursements in vehicle and microfinance businesses.<\/li>\n<li>Corporate book also grew 18% YoY driven by small corporates.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Healthy Retail Deposit Accretion<\/strong>\n<ul>\n<li>Maintained growth trajectory on retail deposit mobilization despite competitive intensity.<\/li>\n<li>Share of retail deposits as per LCR improved to 43.7%, driven by 21% YoY and 4% QoQ growth in retail deposits.<\/li>\n<li>Overall achieved 14% YoY and 4% QoQ total deposit growth, driven by granular retail growth.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Initiatives and Retail Asset Quality Improvement<\/strong>\n<ul>\n<li>Launched digital banking offer INDIE, well received with over 1.8 million downloads and 400,000 customers.<\/li>\n<li>Earlier investments in affluent and NRI segments also growing well at 8% and 7% QoQ respectively.<\/li>\n<li>Merchant acquiring business via Bharat Financial grew 16% QoQ to INR 4,904 crores.<\/li>\n<li>Retail net slippages reduced from INR 1,059 crore to INR 865 crore QoQ.<\/li>\n<li>Corporate slippages increased due to one large account slipping into NPA.<\/li>\n<li>Net NPA at 0.57% with provision coverage ratio stable at 71%<\/li>\n<\/ul>\n<\/li>\n<li><strong>Profitability Metrics<\/strong>\n<ul>\n<li>Net interest margin remained steady at 4.29%.<\/li>\n<li>Client fee income grew 13% YoY driven by retail momentum.<\/li>\n<li>PAT grew 4% QoQ and 22% YoY to INR 2,202 crores.<\/li>\n<li>Operating profit up 10% year-on-year.<\/li>\n<li>Profit after tax up 22% year-on-year.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Targeting retail deposit share of 45-50% in next cycle.<\/li>\n<li>Focus on sustaining over 20% loan growth.<\/li>\n<li>Cost to income ratio expected to trend downwards.<\/li>\n<li>New investments in digital and distribution to support growth<\/li>\n<\/ul>\n<\/li>\n<li><strong>Digital Initiatives<\/strong>\n<ul>\n<li>Launched personalized digital banking app INDIE with 1.8 million users.<\/li>\n<li>Monthly active users on Indus Mobile up 30% year-on-year.<\/li>\n<li>74% of service requests processed digitally vs 69% last year.<\/li>\n<li>UPI transactions on Indus Mobile up 71%.<\/li>\n<li>Merchant app active users more than doubled year-on-year.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Overall Slippages<\/strong>\n<ul>\n<li>Total slippages were Rs 1,450 crores this quarter compared to the guidance of Rs 1,200-1,300 crores.<\/li>\n<li>This was due to some large corporate slippages of around Rs 180 crores which were one-offs.<\/li>\n<li>The bank maintains FY23 slippage guidance of Rs 4,800-5,100 crores. Expects slippages to moderate in H2 with retail slippages declining.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Deposit Growth and Credit Cost<\/strong>\n<ul>\n<li>Deposit growth has lagged credit growth over the last few quarters as excess liquidity was deployed.<\/li>\n<li>Deposits grew by 7% year-on-year, with CASA ratio improving to 43%. Focus is on granular retail deposits through digital acquisition.<\/li>\n<li>Management expects deposit growth to come back in next 2 quarters without needing pricing increase.<\/li>\n<li>Credit costs were higher this quarter at 1.8% due to contingency buffer utilization of Rs 180 crores.<\/li>\n<li>Management maintains credit cost guidance of 1.1-1.3% for FY23. Will start building contingency buffers again in H2.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Operating Expenses And Cost-To-Income Ratio<\/strong>\n<ul>\n<li>Operating expenses grew by 25% due to investment in human capital, branches, capabilities and new businesses.<\/li>\n<li>Cost-to-income ratio increased to 49.6%.<\/li>\n<li>Focus is to improve it to 45-46% in the medium term through operating leverage in digital businesses, with a target of 41-43% in the long run.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from IndusInd Bank Ltd (INDUSINDBK) Q2 FY24 Earnings Concall Loan Growth Momentum Loan growth continues to be strong at 21% YoY and 5% QoQ, driven by retail segment growing 25% YoY and 6% QoQ. Retail growth driven by healthy disbursements in vehicle and microfinance businesses. Corporate book also grew 18% YoY driven by [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,1],"tags":[8249,10169,1792],"class_list":["post-155070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-finance-stocks","tag-banks","tag-earnings","tag-financial-services"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":157873,"url":"https:\/\/alphastreet.com\/india\/indusind-bank-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":155070,"position":0},"title":"Indusind Bank Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"January 19, 2024","format":false,"excerpt":"Key highlights from Indusind Bank Ltd (INDUSINDBK) Q3 FY24 Earnings Concall Loan Growth Momentum The bank saw robust loan growth momentum across retail segments, with overall loan growth at 20% YonY. Retail loan growth was 24% YonY, driven by healthy growth in vehicles, microfinance, and consumer loans. Vehicle loan growth\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":157981,"url":"https:\/\/alphastreet.com\/india\/axis-bank-ltd-q3-fy24-earnings-conference-call-insights\/","url_meta":{"origin":155070,"position":1},"title":"Axis Bank Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"January 24, 2024","format":false,"excerpt":"Key highlights from Axis Bank Ltd (AXISBANK) Q3 FY24 Earnings Concall GPS Strategy Performance Bank delivered over 18% ROE for last 6 quarters while maintaining better credit profile compared to past. Organically accreted 39 bps of CET1 capital in 9 months FY24. Focused on 3 areas - embedding performance culture,\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":169525,"url":"https:\/\/alphastreet.com\/india\/indusind-bank-q1-fy26-stabilizing-the-ship-amid-digital-transformation\/","url_meta":{"origin":155070,"position":2},"title":"IndusInd Bank Q1 FY26 Earnings: Stabilizing the Ship Amid Digital Transformation","author":"Chirag Gupta","date":"July 30, 2025","format":false,"excerpt":"Executive Summary IndusInd Bank reported mixed Q1 FY26 results, demonstrating stabilization in core operations while continuing to navigate sector-wide challenges. The bank posted a net profit of \u20b9604 crore, representing a significant YoY decline primarily due to the absence of one-off gains recorded in the base quarter. However, underlying business\u2026","rel":"","context":"In &quot;AlphaCall&quot;","block_context":{"text":"AlphaCall","link":"https:\/\/alphastreet.com\/india\/category\/alphacall\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/AlphaCall-Thumbnail.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/AlphaCall-Thumbnail.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/AlphaCall-Thumbnail.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/AlphaCall-Thumbnail.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/07\/AlphaCall-Thumbnail.png?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":160546,"url":"https:\/\/alphastreet.com\/india\/axis-bank-ltd-q4-fy24-earnings-conference-call-insights\/","url_meta":{"origin":155070,"position":3},"title":"Axis Bank Ltd Q4 FY24 Earnings Conference Call Insights","author":"Praveen","date":"April 25, 2024","format":false,"excerpt":"Key highlights from Axis Bank Ltd (AXISBANK) Q4 FY24 Earnings Concall Deposit Franchise Strengthening Focused on improving deposit quality and strength over the past couple of years. Initiatives like Burgundy, Burgundy Private, Siddhi, and Sparsh helped improve deposit health. LCR outflow rates improved by 500 bps in last two years.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":155928,"url":"https:\/\/alphastreet.com\/india\/state-bank-of-india-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":155070,"position":4},"title":"State Bank of India Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 8, 2023","format":false,"excerpt":"Key highlights from State Bank of India (SBIN) Q2 FY24 Earnings Concall Financial Performance Net profit increased 8.03% (YoY) to INR14,330 crores. Operating profit declined 8.07% YoY to INR19,417 crores. ROA improved 34 bps YoY to 1.10% in H1 FY2024 but moderated 3 bps YoY to 1.01% in Q2 FY24.\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":154598,"url":"https:\/\/alphastreet.com\/india\/indusind-bank-navigating-the-financial-landscape\/","url_meta":{"origin":155070,"position":5},"title":"IndusInd Bank: Navigating the Financial Landscape","author":"Divyansh_Kasana","date":"September 12, 2023","format":false,"excerpt":"Introduction IndusInd Bank is one of India's leading private sector banks with a strong presence in both retail and corporate banking. Established in 1994, the bank has consistently expanded its footprint and diversified its product offerings. As of the latest available data, it has a widespread network of branches and\u2026","rel":"","context":"In &quot;Research Summary&quot;","block_context":{"text":"Research Summary","link":"https:\/\/alphastreet.com\/india\/category\/research-summary\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/04\/iStock-524529958.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/155070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/1767"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=155070"}],"version-history":[{"count":0,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/155070\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/154818"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=155070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=155070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=155070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}