Medilytix Bureau:

IndusInd Bank reported a 50 per cent year-on-year (YoY) jump in its consolidated net profit for October-December quarter at Rs 1,242 crore on the back of lower provisions. On a quarter-on-quarter (QoQ) basis, profit was higher by 8 per cent.
IndusInd Bank’s provisions and contingencies declined 11 per cent YoY and 3 per cent QoQ to Rs 1,654 crore during the quarter.
The bank’s net interest income (NII) rose 11 per cent YoY and 4 per cent QoQ to Rs 3,793 crore, while net interest margin contracted 2 basis points (bps) YoY and expanded by 3 bps QoQ to 4.10 per cent.

The private sector lender’s deposits grew 19 per cent YoY and 3 per cent QoQ to Rs 2.84 lakh crore, while advances rose 10 per cent YoY and 4 per cent QoQ to Rs 2.28 lakh crore. The current account and savings account (CASA) deposits increased 24 per cent YoY and 3 per cent QoQ to Rs 1.19 lakh crore.

On asset front, the gross non-performing assets stood at 2.48 per cent at the end of December 2021 quarter as against 2.77 per cent at the end of September quarter, while net non-performing assets were at 0.71 per cent as compared to 0.80 per cent as of September 30, 2021. The bank’s liquidity coverage ratio stood at 137 per cent.

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