IndusInd Bank announces Financial Results for Nine month ended December 31, 2019 (Consolidated)

Highlights Q3 FY 2019-20

• Q3 FY20 marked by robust growth in headline numbers
• Revenue growth of 29%; NII up by 34%; Fee up by 22%
• Pre Provision Operating Profit (PPOP) at Rs.2,758 crores, grew by 30% YoY PPOP / Assets of 3.83% amongst the industry highest
• Consolidated PAT at Rs.1,309 crores up by 33%
• Q3 PAT without accelerated provisions at Rs. 1,497 crores up by 52% YoY
• NIM up by 5 bps to 4.15% QoQ (3.83% LY) • Credit growth up 20% and Deposit growth up 23%
• Strengthened Balance Sheet by improving PCR to 53% with accelerated provisions of Rs.251 crores
• Loan book quality stable; GNPA at 2.18% and NNPA at 1.05%
• Capital Adequacy stands at 15.43% (including 9M FY20 Profits)

Mumbai, January 14, 2020: The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the nine month ended December 31, 2019. Performance Highlights at a Glance:

Performance Highlights at a Glance:

Key Ratios:

*(including eligible profit for 9M FY20)     

Performance highlights for the quarter ended December 31, 2019:

• Net Interest Income (NII) for the quarter is Rs.3,074 crores as against Rs.2,288 crores in the corresponding quarter of the previous year, registering a robust growth of 34%. 
• Non-Interest Income for the quarter is Rs.1,790 crores as against Rs.1,469 crores in the corresponding quarter of the previous year, a growth of 22%. 
• Pre Provision Operating Profit for the quarter is Rs.2,758 crores as against Rs.2,117 crores in the corresponding quarter of the previous year, showing a growth of 30%.
•  Net Profit for the quarter is Rs.1,309 crores as against Rs.985 crores in the corresponding quarter of the previous year, showing a growth of 33%.
• Total Advances as on December 31, 2019 is at Rs.2,07,414 crores as compared to Rs.173,169 crores on December 31, 2018, recording a growth of 20%.
• Total Deposits as on December 31, 2019 is at Rs.2,16,713 crores as compared to Rs.1,75,701 crores on December 31, 2018 up by 23%. Total Business is at Rs.4,24,127 crores. 
• Net NPA as on December 31, 2019 is at 1.05% as against 0.59% on December 31, 2018. 
• Increase in network to 1851 Branches / Banking Outlet and 2721 ATMs as on December 31, 2019 as against 1558 Branches / Banking Outlet and 2453 ATMs as on December 31, 2018. 

Performance highlights for the nine month ended December 31, 2019:

• Net Interest Income (NII) for the nine month ended December 31, 2019 is Rs.8,828 crores as against Rs.6,614 crores in the corresponding period of the previous year, registering a robust growth of 33%. 
• Non-Interest Income for the nine month ended December 31, 2019 is Rs.5,180 crores as against Rs. 4,088 crores in the corresponding period of the previous year, showing a growth of 27%. 
• Pre Provision Operating Profit for the nine month ended December 31, 2019 is Rs.7,972 crores as against Rs.6,021 crores in the corresponding period of the previous year, showing a growth of 32%. 
• Net Profit for the nine month ended December 31, 2019 is Rs.4,143 crores as against Rs.2,941 crores in the corresponding period of the previous year, showing a growth of 41%.

Commenting on the performance, Mr. Romesh Sobti, Managing Director & CEO, IndusInd Bank said,“During Q3 FY-20, the Bank witnessed a healthy growth in its topline as well as in operating profits. The Bank also reached a milestone as the Balance Sheet footage crossed Rs.3 trillion and the Advances crossed the Rs. 2 trillion mark. PCR has been increased to 53% to strengthen the Balance Sheet. We look forward to moving into the subsequent quarters with renewed momentum.”

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, 2019, IndusInd Bank has 1851 Branches/ Banking Outlet and 2721 ATMs spread across 746 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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