IndusInd Bank Q3 Net Profit up by 29 % to Rs 750.64 crores, NIM stable at 4.00% Balance Sheet at Rs. 1,67,102 croresEstimated reading time: 4 minutes, 6 seconds

IndusInd Bank Q3 Net Profit up by 29 % to Rs 750.64 crores, NIM stable at 4.00% Balance Sheet at Rs. 1,67,102 crores

Posted on Tuesday, January 10th, 2017 | By IndusInd Bank

Highlights Q3 FY 2017

  • A quarter of steadfast performance
  • NIM stable at 4%
  • Deposit growth up 38% Y-o-Y
  • Credit growth up 25% Y-o-Y
  • Net Interest Income up 35% Y-o-Y
  • Operating profit and Net Profit up 29% Y-o-Y
  • Capital Adequacy Ratio (CRAR) at 15.31 %

Mumbai, January 10, 2017: The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the third quarter, ended December 31, 2016.

pr-blance-sheet

Performance highlights for the Quarter ended December 31, 2016:

  • Net Interest Income (NII) for the quarter is Rs. 1,578.42 crores as against Rs. 1,173.42 crores in the corresponding quarter of the previous year, registering a robust growth of 35 %.
  • Non-Interest income for the quarter is Rs. 1,016.80 crores as against Rs. 839.00 crores in the corresponding quarter of the previous year, a growth of 21%
  • Core fee income for the quarter is Rs. 884.84 crores as against Rs. 725.90 crores in the corresponding quarter of the previous year, marking a growth of 22 %
  • Operating Profit for the quarter is Rs. 1,363.34 crores as against Rs. 1,060.98 crores in the corresponding quarter of the previous year, showing a growth of 29 %.
  • Net Profit for the quarter is Rs. 750.64 crores as against Rs. 581.02 crores in the corresponding quarter of the previous year, showing a growth of 29 %.
  • Net Interest Margin (NIM) for the current quarter is 4.00% as against 3.91% in the corresponding quarter of the previous year.
  • CASA (Current Accounts- Savings Accounts) Ratio improved to 37.04% against 34.98%.
  • Total Advances as on December 31, 2016 is at Rs. 1,02,770 crores as compared to Rs. 82,167 crores on December 31,2015, recording a growth of 25 %.
  • Total Deposits as on December 31, 2016 is at Rs. 1,19,218 crores as compared to Rs. 86,423 crores on December 31,2015, up by 38 %. Total Business at Rs. 2,21,988 crores.
  • Net NPA as on December 31, 2016 is at 0.39% as against 0.33% on December 31, 2015.
  • Increase in network to 1,075 Branches and 1,960 ATMs as on December 31, 2016 as against 905 Branches and 1,621 ATMs as on December 31, 2015.

Performance highlights for the 9-month ended December 31, 2016:

  • Net Interest Income (NII) for the 9-month ended December 31, 2016 is Rs. 4,395.15 crores as against Rs. 3,248.36 crores in the corresponding period of the previous year, registering a robust growth of 35 %.
  • Non-Interest income is at Rs. 2,960.19 crores for the 9-month ended December 31, 2016 as against Rs. 2,384.15 crores in the corresponding period of the previous year, a growth of 24%
  • Core fee income is Rs. 2,492.32 crores for the 9 months ended December 31, 2016 as against Rs. 2,035.40 crores in the corresponding period of the previous year, marking a growth of 22 %
  • Operating Profit for the 9 months ended December 31, 2016 is Rs. 3,878.78 crores as against Rs. 2,990.23 crores in the corresponding period of the previous year, a growth of 30 %.
  • Net Profit for the 9 months ended December 31, 2016 is Rs. 2,116.28 crores as against Rs. 1,666.10 crores in the corresponding period of the previous year, showing a growth of 27 %.
  • Net Interest Margin (NIM) for the 9 months ended December 31, 2016 is 3.98% as against 3.82% in the corresponding period of the previous year.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, post the historic move of demonetisation, the economy has been in a reinvention mode. Banks have taken various measures to help customers during these times to ensure a smooth transition. Adaptability, responsiveness and reinvention have become the new mantras of today’s businesses. Digitization which has always been in focus, has now become the core area of thrust. Against such dynamic changes in the economy, the Bank has maintained its sustained financials with steady numbers. The total business of the Bank has increased to Rs. 2,21,988 crores and we have maintained our NIM at 4.00%.

With positive revival in the economy, there will be an increase in the credit uptick soon. This will reflect in our fourth quarter results. The Bank will continue its focus on digitization as well as responsive innovation to serve our customers. ”

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 December 31, 2016, IndusInd Bank has 1,075 branches, and 1,960 ATMs spread across 647 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.

Ratings:

  • CRISIL AA + for Infra Bonds program
  • CRISIL A1+ for certificate of deposit program by CRISIL
  • IND AA+ for Senior bonds program by India Ratings and Research
  • IND AA for Upper Tier II bond program by India Ratings and Research
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • ICRA AA for Upper Tier II bonds by ICRA

Visit us at www.indusind.com
Twitter- @MyIndusIndBank
Facebook https://www.facebook.com/OfficialIndusIndBankPage/

For more details on this release, please contact:

Anu Raj
IndusInd Bank Ltd.
mktg@indusind.com
Namita Sharma
Adfactors PR Pvt. Ltd.
namita.sharma@adfactorspr.com
02267412558/ 9820950663