IndusInd Bank Q1 Net Profit up by 26 % to Rs. 836.55 crores, NIM stable at 4.00% Total business crosses Rs. 2,50,000 crores
Posted on Tuesday, July 11th, 2017 | By IndusInd Bank
Highlights Q1 FY 2017-18
- A quarter of steadfast performance
- NIM stable at 4%
- Deposit growth up 31 % Y-o-Y
- Credit growth up 24% Y-o-Y
- Net Interest Income up 31% Y-o-Y
- Operating profit and Net Profit up 29% and 26% Y-o-Y respectively
- CASA up 44% Y-o-Y, SA rose 65% Y-o-Y
- Capital Adequacy Ratio (CRAR) at 16.18%
Mumbai, July 11, 2017: The Board of Directors of IndusInd Bank Ltd. Today approved and adopted its Unaudited Financial Results for the first quarter ended June 30, 2017.
Performance Highlights at a Glance:
Performance highlights for the Quarter ended June 30, 2017:
- Net Interest Income (NII) for the quarter is Rs. 1,774.06 crores as against Rs. 1,356.42 crores in the corresponding quarter of the previous year, registering a robust growth of 31%.
- Core fee income for the quarter is Rs. 974.04 crores as against Rs. 781.91 crores in the corresponding quarter of the previous year, marking a growth of 25%. Non-Interest income for the quarter is Rs. 1,167.26 crores as against Rs. 972.97 crores in the corresponding quarter of the previous year, a growth of 20%
- Operating Profit for the quarter is Rs. 1,588.53 crores as against Rs. 1,233.79 crores in the corresponding quarter of the previous year, showing a growth of 29%.
- Net Profit for the quarter is Rs. 836.55 crores as against Rs. 661.38 crores in the corresponding quarter of the previous year, showing a growth of 26%.
- Net Interest Margin (NIM) for the current quarter is 4.00% as against 3.97% in the corresponding quarter of the previous year.
- CASA (Current Accounts- Savings Accounts) Ratio improved to 37.78% against 34.43% in June 30, 2016.
- Total Advances as on June 30, 2017 is at Rs.1,16,407 crores as compared to Rs. 93,678 crores on June 30, 2016, recording a growth of 24 %.
- Total Deposits as on June 30, 2017 is at Rs. 1,33,673 crores as compared to Rs. 1,01,768 crores on June 30,2016, up by 31%. Total Business at Rs. 2,50,080 crores. Savings accounts as on June 30, 2017 at Rs. 31,556 crores rose 65% from Rs 19,091 crores as on June 30,2016.
- Net NPA as on June 30, 2017 is at 0.44 % as against 0.38 % on June 30, 2016.
- Increase in network to 1210 Branches and 2,090 ATMs as on June 30, 2017 as against 1004 Branches and 1885 ATMs as on June 30, 2016.
About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on June 30, 2017, IndusInd Bank has 1210 branches, and 2090 ATMs spread across 687 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges – BSE and NSE – and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank on April 1, 2013 was included in the NIFTY 50 benchmark index. Recently, IndusInd Bank ranked 13th amongst the Top 50 Most Valuable Indian Brands 2015 as per the BrandZ Top 50 rankings powered by WPP and Millward Brown.
- CRISIL AA + for Infra Bonds program
- CRISIL AA for Additional Tier I Bonds program
- CRISIL A1+ for certificate of deposit program
- IND AA+ for Senior bonds program by India Ratings and Research
- IND AA for Additional Tier I Bonds program by India Ratings and Research
- IND A1+ for Short Term Debt Instruments by India Ratings and Research
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For more details on this release, please contact:
IndusInd Bank Ltd.
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