Gross NPAs are down to 1.05% and the CAR up to 16.2% pointing to a double digit Tier I capital ratio ( details after press conference later) Thus Aditya Puri's bellwether bank is walking away with all the prizes out of the gate this season growing credit 24% year on year to $621 million. Profits have crossed the $1 billion mark for the year scoring $277 million and more compared to a staid $218 mln in the last quarter of last year and that was a good 1/3 higher over the previous year. This in itself gives you a picture of a galloping economy in the face of inflation and growth compared to someone scared of inflation in the developed west.

The stockholders of the bank would be also very pleased with a likely unlocking of 30-50% of the banks value through a 5 for 1 stock split bringing the listing down to nearly $12 from the $60 levels currently once the record date is observed in the next few weeks.

Dividend is up by 33% and Other Income incl Fee income is also up 25% from 250 million to 315 million for  a single quarter. 

NIMs are strong at 4.2% and markets might find the wait worth it when they open tomorrow 

Midcap Indusind bank happy with 75% growth

In earlier results the new team at Indusind was happy to announce profits to $68 million from less than 40 million in the March 2010 quarter. Indusind however is depending on the $100 million credit card portfolio it has purchased from Deutsche Bank to fuel growth and a small base does produce large jumps in CIB fee income

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