Savings Bank Deposits grew 108% on year even as Assets grew to INR 750 bln or $15 bln but the growth of Net IUnterest Income and Profits was neck and neck at 30%. The “but” in there is from the expectations of the banks followers for the bank to grow aggressively in size as Indusind catches up on the strength of the retail book and BRA modifications run their last mile this year. Kotak has also stepped off the flatlined escalator and started climbing back in prospects so we’ll have to look to results there.
The NII was INR 4.5 bln and Profits 2.72 bln for the quarter. Year end grrowth data is as impressive as could be as was showing in the management confidence in the results post conference
NIM is 2.8% and NPAs (Net) 0.05%