• Deposit mobilization: Indian Bank raised $2.8 billion in total, comprising $2.4 billion in FCNR and $400 million in OFCB, primarily from high-net-worth clients across the Middle East and Singapore.
• Fund deployment strategy: Approximately 70% of the FCNR inflows will be used to retire high-cost bulk deposits, while the remaining 30% will be directed toward credit lending.
• Margin impact: Management expects minimal impact on net interest margins (within 1 to 2 basis points) because the all-in swapped FCNR cost of 6.4% to 6.5% closely matches bulk deposit costs of 6.5% to 6.6%.
• Credit growth guidance: Credit growth expectations have been revised upward from 13%–14% to 16%–17%, with lending prioritized in green energy, battery and solar cell manufacturing, and data centers.
• Leveraged deposit share: About 40% of the FCNR deposits are leveraged, with loans extended selectively at 5.5% to 5.6% to high-net-worth existing customers.