IndusInd Bank (IBL) reported its 3QFY19 results with the key takeaways being: (1) IBL took provision cover to IL&FS parent exposure to 30% and expects a cumulative provision requirement of 40-50% on this exposure to IL&FS parent.
Bank creates another Rs2.5bn of contingent provisions over and above Rs3.5bn held from earlier quarter on IL&FS. SA deposits growth was slower (18% YoY / -2.1% QoQ) and saw decline on absolute basis sequentially.
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