Private-sector lender IndusInd Bank on April 24 announced a close to 50 percent jump in profit at Rs 2,040 crore for the quarter ending March 2023.
Here are key highlights from IndusInd Bank's earnings report card for the quarter ending March 2023:
Massive PAT growth
The bank reported profit of Rs 2040.51 crore, a 49.88 percent jump from Rs 1361.37 crore a year ago.
The lender in the quarter ended March 2023 reported net interest income (NII) of Rs 4,669 crore, up by 17 percent Y-o-Y.
NII for the year ended March 31, 2023 increased to Rs 17,592 crore, up 17 percent from Rs 15,001 crore previous year.
Deposit growth
The bank’s deposits as of March 2023 stood at Rs 3.36 lakh crore, 15 percent growth from Rs 2.93 lakh crore.
Current and Savings Account (CASA) deposits increased to Rs 1.34 lakh crore with current Account deposits at Rs 50,600 crore and savings account deposits at Rs 84,128 crore.
CASA deposits comprised 40 percent of total deposits as at March 31, 2023. Advances as of March 31, 2023 were Rs 2.89 lakh crore as against Rs 2.39 lakh crore, an increase of 21 percent over March 31, 2022.
Asset quality
The lender's gross non-performing assets (NPA) was at 1.98 percent of gross advances as on March 31, 2023 as against 2.06 percent as on December 31, 2022. Net NPA were 0.59 percent of net advances as on March 31, 2023 as compared to 0.62 percent as on December 31, 2022.
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