Private sector lender IndusInd Bank on Friday (July 5) said the bank’s advances have surged by 16% year-on-year to ₹3.48 lakh crore, up from ₹3.01 lakh crore a year earlier as of June 30, 2024.
On a quarter-on-quarter (QoQ) basis, advances increased by 1%. Deposits also rose by 15% year-on-year (YoY) to ₹3.98 lakh crore compared to ₹3.47 lakh crore on June 30, 2023. The QoQ growth in deposits was 4%.
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However, the CASA (current account savings account) ratio, a key indicator of a bank’s financial health, has seen a decline. The CASA ratio stood at 36.7% as of June 30, 2024, down from 39.9% over the year-ago period and 37.9% lower than the previous quarter.
The bank’s retail deposits and deposits from small business customers amounted to ₹1,74,245 crore as of June 30 2024 as compared to ₹1,69,457 crore as of March 31, 2024.
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Q4 numbers
IndusInd Bank reported a 15% rise in net profit to ₹2,349 crore for the January-March quarter of the financial year 2023-24. This figure exceeded the expectations outlined in a CNBC-TV18 poll, which had projected a profit of ₹2,322.7 crore.
The bank’s net interest income (NII) stood at ₹5,376.4 crore, up by 13.9% from ₹4,669.5 crore in the corresponding quarter of the previous financial year. IndusInd Bank’s performance was propelled by an 18% growth in net loans, outpacing the 14% growth in deposits.
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The gross non-performing asset (NPA) ratio stood at 1.92%, showing a decline from 1.98% recorded in the same quarter last year. Similarly, the net NPA ratio improved to 0.57%, down from 0.59% on a year-on-year basis.
Shares of IndusInd Bank Ltd ended at ₹1,433.80, down by ₹9.40, or 0.65%, on the BSE.
