Aim to have 650-700 branches by March 2014: IndusInd Bank

IndusInd Bank has declared its fourth quarter results. The Bank’s net profit went up 30%. It net interest margin (NIM) stands at 3.29% versuss 3.5%.

Addressing a press conference, Romesh Sobti, managing director and chief executive officer of IndusInd Bank said restructured advances are at 0.26%. “Our gross non-performing asset (NPA) is at 0.97% versus 1.02% on quarter-on-quarter (QoQ) basis. Our net NPA is at 0.27% versus 0.29% on QoQ basis.” Sobti says, bank's branches have grown beyond 400. “We are on our way to have 650-700 branches by March 2014,” he adds. He further said, the bank’s current and savings account (CASA) ratio is at 27.30%. “Our capital adequacy ratio is at 13.85%. Tier I capital is at 11.37%,” he added. The Bank’s loan book growth stands at 34% YoY basis. The bank acquired 60,000 new customers in March 2012. For complete presser, watch the accompanying videos.