IndusInd Bank Q3FY 18 Net Profit up by 25 % to Rs 936.25 crores, Balance sheet size crosses 2 lakh crores , ROA (Annualised) at 1.96%

Posted on Monday, January 29th, 2018 | By IndusInd Bank

Highlights Q3 FY 2018

• A quarter of steadfast performance
• Deposit growth up 23% Y-o-Y
• Saving Deposit Growth up 68% Y-o-Y
• Credit growth up 25% Y-o-Y
• Net Interest Income up 20 % Y-o-Y
• Net profit up 25 % Y-o-Y
• Return on Assets (ROA) at 1.96 %
• Capital Adequacy Ratio (CRAR) at 15.83 %

Mumbai, January 11 2018: The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the third quarter, ended December 31, 2017.

Performance Highlights at a Glance:

Key Ratios:

Performance highlights for the Quarter ended December 31, 2017:

• Net Interest Income (NII) was Rs. 1,894.81 crores as against Rs. 1,578.42 crores in the corresponding quarter of the previous year, registering a robust growth of 20 %.
• Non Interest income for the quarter was Rs. 1,186.76 crores as against Rs. 1,016.80 crores in the corresponding quarter of the previous year, a growth of 17 %
• Core fee income for the quarter was Rs. 1,076.51 crores as against Rs. 884.84 crores in the corresponding quarter of the previous year, marking a growth of 22 %
• Operating Profit for the quarter was Rs. 1,664.69 crores as against Rs. 1,363.34 crores in the corresponding quarter of the previous year, showing a growth of 22 %.
• Net Profit for the quarter was Rs. 936.25 crores as against Rs. 750.64 crores in the corresponding quarter of the previous year, showing a growth of 25 %.
• Net Interest Margin (NIM) was stable at 3.99 % for the current quarter as against 4.00% in the corresponding quarter of the previous year.

Performance highlights for the Nine month ended December 31, 2017:

• • Net Interest Income (NII) for the Nine month ended December 31, 2017 was Rs. 5,489.86 crores as against Rs. 4,395.15 crores in the corresponding period of the previous year, registering a robust growth of 25 %.
  • Non-Interest income was at Rs. 3,541.59 crores as against Rs. 2,960.19 crores in the corresponding period of the previous year, a growth of 20 %
  • Core fee income was Rs. 3,063.57 crores as against Rs. 2,492.32 crores in the corresponding period of the previous year, marking a growth of 23%
  • Operating Profit for the Nine month ended December 31, 2017 was Rs. 4,886.72 crores as against Rs. 3,878.78 crores in the corresponding period of the previous year, a growth of 26 %.
  • Net Profit for the Nine month ended December 31, 2017 was Rs. 2,652.90 crores as against Rs. 2,116.28 crores in the corresponding period of the previous year, showing a growth of 25 %.
  • Net Interest Margin (NIM) for the Nine month ended December 31, 2017 was 4.00% as against 3.98 % in the corresponding period of the previous year.
  • CASA (Current Accounts- Savings Accounts) Ratio improved to 42.86 % against 37.04 % and Saving deposit grew by 68% Y-o-Y from 25,175 crores in December 2016 to 42,246 crores in December 2017.
  • Total Advances as on December 31, 2017 were at Rs. 1,28,542 crores as compared to Rs. 1,02,770 crores in the corresponding period of the previous year, recording a growth of 25%.
  • Total deposits as on December 31, 2017 were at Rs. 1,46,086 crores as compared to Rs. 1,19,218 crores in the corresponding period of the previous year, up by 23 %. Total Business at
    Rs. 2,74,628 crores.
  • Net NPA as on December 31, 2017 was at 0.46% as against 0.39% as at December 31, 2016.
  • Increase in network to Branches and ATMs as on December 31, 2017 at 1320 Branches and 2162 ATMs as against 1075 Branches and 1960 ATMs as on December 31, 2016

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “The Bank has continued to show a steadfast performance again in this quarter. All vectors for both topline and bottom line have progressed as per plan. We have maintained a stable quality loan book. We believe in ‘responsive innovation’ as our central theme. Just like in the past, we will continue to launch a wide range of banking products and services which are not only unique but very germane to our consumers.”

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, 2017, IndusInd Bank has 1320 branches, and 2162 ATMs spread across 702 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. In the recently released Kantar Millward Brown’s BRANDZ Top 50 most valuable Indian Brands 2017 report, IndusInd Bank has retained its 12th position and has been ranked No.6 amongst banks as per the Top 50 Indian Brands.

Ratings:

• • • 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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