IndusInd Bank Q3 Net Profit up by 30% at Rs.581.02 crore YoY basis

Highlights Q3 FY 2016

  • Key performance vectors stable
  • Net Profit up by 30% at Rs.581.02 crores
  • Core Fee Income up by 30% at Rs.725.90 crores
  • NIM up by 24bps at 3.91%
  • Non- Interest Income Grows by 29%
  • Total revenue at Rs 2012.42 crores is up by 33%

Mumbai, January 12, 2016: The Board of Directors of IndusInd Bank Ltd., today approved and adopted its Unaudited Financial Results for the third quarter, ended December 31, 2015.

Performance highlights for the Quarter ended December 31, 2015 are:

  • Net Profit for the quarter was Rs. 581.02 crores as against Rs. 447.19 crores in the corresponding quarter of the previous year, showing a growth of 30%
  • Operating Profit for the quarter was Rs. 1,060.98 crores as against Rs. 773.84 crores in the corresponding quarter of the previous year, showing a growth of 37%
  • Net Interest Income (NII) was Rs. 1,173.42 crores as against Rs. 861.37crores in the corresponding quarter of the previous year, registering a growth of 36%
  • Net Interest Margin (NIM) for the current quarter was 3.91 % as against 3.67 % in the Q3 FY15
  • Non Interest Income grew by 29% to Rs.839.00 crores as against Rs. 649.00 crores in the corresponding quarter of the previous year while core fee grew by 30% to Rs 725.90 crores as against Rs 560.52 crores in the corresponding quarter of the previous year.
  • CASA (Current Accounts- Savings Accounts) Ratio rises to 34.98%

Performance highlights for the 9-month period ended December 31, 2015 is:

  • Net Profit for the 9-month period ended December 31, 2015 was Rs. 1,666.10 crores as against Rs. 1,298.45 crores in the corresponding period of the previous year, up 28%
  • Operating Profit for the 9-month period ended December 31, 2015 was Rs. 2990.23 crores as against Rs. 2,247.71 crores in the corresponding period of the previous year, up 33%
  • Net Interest Income was Rs. 3,248.36 crores as compared to Rs. 2,495.14 crores in the corresponding period of the previous year, up 30%
  • Total Advances were at Rs. 82,167 crores compared to Rs. 63,847 crores showing a YoY growth of 29 %
  • Total Deposits were at Rs. 86,423 crores compared to Rs 69,376 crores showing a YoY growth of 25%
  • Gross NPA in current Q3 drops to 0.82 % compared to 1.05% for the corresponding period of the previous year.
  • Net NPA as at December 31, 2015 stood at 0.33% as compared to 0.32% for the corresponding period of the previous year.
  • Increase in Branch network to 905 branches and 1621 ATMs from 727 and 1350 ATMs for the previous year, spread over 568 geographical locations as on December 31, 2015.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “Globally as well as in the domestic market, growth Continues to be weak. But against all odds, the Bank has kept faith and shown sustained progress across all vectors. Our Operating Profit rose by 37%, with Core Fee Income at 30% and our NIM improving to a healthy 3.91%. We will continue to keep our focus on our growth trajectory in these uncertain times.”

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, 2015, IndusInd Bank has 905 branches, and 1621 ATMs spread across 568 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:

  • ICRA AA+ for Lower Tier II subordinate debt program by ICRA
  • ICRA AA for Upper Tier II subordinate debt program by ICRA
  • CRISIL A1+ for certificate of deposit program by CRISIL
  • CARE AA+ for Lower Tier II subordinate debt program by CARE
  • IND A1+ for Short Term Debt Instruments by India Ratings and Research
  • IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
  • IND AA for Upper Tier II subordinate debt program by India Ratings and Research
  • IND AA+ for Senior unsecured bonds program by India Ratings and Research

For more details on this release, please contact:

Visit us at www.indusind.com

Mohit Ganju
IndusInd Bank Ltd.

Mohit.ganju@indusind.com
0124-4749500

Rasika Badshah /Namita Sharma
Adfactors PR Pvt. Ltd.

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