Announcing its second quarter (Q2) update, IndusInd Bank said the lender’s net advances grew 10% on a year-on-year (YoY) basis and 5% on a sequential basis. ₹2,21,821 crore as of September 30, 2021.
Whereas, IndusInd Bank deposit Growth of 21% YoY and 3% QoQ during the quarter under review ₹2,75,486 crore, under which retail deposits and deposits from small business customers ₹1,11,749 crore as on 30 September 2021 as compared to ₹1,05,737 crore as of 30 June 2021.
The CASA (current and savings account) ratio of the bank remained unchanged at 42.1% quarter on quarter (QoQ) and 40.4% year-on-year (YoY).
IndusInd Bank shares rise 0.6% ₹1,126.6 per share on the BSE in early deals on Tuesday.
For the quarter ended June 2021 (Q1), IndusInd Bank consolidated net profit up 99.2% year-on-year ₹1,061 crores. The lender had posted a net profit of ₹510 crore in the year-ago period. Bank’s net interest income (NII) also grew 8% year-on-year ₹3,563.7 crore from ₹3,309 crore in Q1FY21. Further, its asset quality deteriorated as the gross non-performing A (GNPA) ratio climbed to 2.88% in Q1FY22 from 2.67% in the previous quarter (Q4FY21). Additionally, the Net NPA Ratio increased from 0.69% to 0.84%.
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