IndusInd Bank Q1 Net Profit up by 24% to Rs 1,035.72 crores

Highlights Q1 FY 2018-19

• A quarter of steadfast performance
• Strong Q-o-Q growth all around
• PAT up 24% Y-o-Y
• Loan growth up 29 % Y-o-Y
• ROA up 5 bps to 1.91%
• Return on Equity up at 17.25%

Mumbai, July 10, 2018: The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the first quarter ended June 30, 2018.

Performance Highlights at a Glance:

Key Ratios:

Performance highlights for the Quarter ended June 30, 2018:

• Net Interest Income (NII) for the quarter is Rs. 2,122.43 crores as against Rs. 1,774.06 crores in the corresponding quarter of the previous year, registering a robust growth of 20 %.
• Core fee income for the quarter is Rs.1,164.80 crores as against Rs. 974.04 crores in the corresponding quarter of the previous year, marking a growth of 20 %. Non-Interest income for the quarter is Rs.1,301.60 crores as against Rs. 1,167.26 crores in the corresponding quarter of the previous year, a growth of 12 %
• Operating Profit for the quarter is Rs. 1,911.13 crores as against Rs. 1,588.53 crores in the corresponding quarter of the previous year, showing a growth of 20%.
• Net Profit for the quarter is Rs.1,035.72 crores as against Rs. 836.55 crores in the corresponding quarter of the previous year, showing a growth of 24%.
• CASA (Current Accounts- Savings Accounts) Ratio improved to 43.42% against 37.78% in June 30, 2017.
• Total Advances as on June 30, 2018 is at Rs. 1,50,675 crores as compared to Rs. 1,16,407 crores on June 30, 2017, recording a growth of 29 %.
• Total Deposits as on June 30, 2018 is at Rs.1,58,862 crores as compared to Rs. 1,33,673 crores on June 30,2017, up by 19%. Total Business at Rs. 3,09,537 crores. Savings accounts as on June 30, 2018 at Rs. 47,711 crores rose 51% from Rs 31,556 crores as on June 30,2017.
• Net NPA as on June 30, 2018 is at 0.51 % as against 0.44 % on June 30, 2017
• Increase in network to 1410 Branches and 2285 ATMs as on June 30, 2018 as against 1210 Branches and 2090 ATMs as on June 30, 2017.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said,

“In the first quarter of the new financial year, the Bank continued its momentum and showed a consistent performance in all important vectors. The Bank continues to stride ahead and has charted growth plans to propel into another year of sustained and balanced banking operations. Digitisation and Customer convenience remains the cornerstone of Bank’s strategy which will continue to create value for the customers through its services.

The Bank posted Net Profit up by 24 % and Return on Assets for the current quarter improved to 1.91% as against 1.86% in the corresponding quarter of the previous year.”

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, 2019, IndusInd Bank has 1701 branches/ banking outlet and 2605 ATMs spread across 740 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 01, 2013 was included in the NIFTY 50 benchmark index.

Ratings:

Domestic 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

International Ratings

• Baa3 as Issuer, Bank Deposits and Senior Unsecured MTN ratings by Moody’s Investors Service
• P3 as Short Term Issuer Rating by Moody’s Investors Service

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