IndusInd Bank announces Financial Results for half year ended September 30, 2019 (Consolidated)

Highlights Q2 FY 2019-20

• A quarter of steadfast performance, Consolidated profit after tax at Rs. 1,401 crores up by 52%
• Deposit growth up 23% Y-o-Y
• Credit growth up 21% Y-o-Y
• Net Interest Income up 32% Y-o-Y at Rs. 2,909 crores
• Operating Profit and Net Profit up 32% and 52% Y-o-Y respectively
• Capital Adequacy Ratio (CRAR) at 15.77% (including eligible profit for H1 FY20)
• Provision Coverage Ratio (PCR) stepped up, now stands at 50% as against 43% in Q1 FY20

Mumbai, October 10, 2019: The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the half Year ended September 30, 2019.

Key Ratios:

*(including eligible profit for H1 FY20)

Performance highlights for the quarter ended September 30, 2019:

• Net Interest Income (NII) for the quarter is Rs. 2,909 crores as against Rs. 2,203 crores in the corresponding quarter of the previous year, registering a robust growth of 32%.
• Non-Interest Income for the quarter is Rs. 1,727 crores as against Rs. 1,317 crores in the corresponding quarter of the previous year, a growth of 31%.
• Core fee income for the quarter is Rs. 1,468 crores as against Rs. 1,218 crores in the corresponding quarter of the previous year, marking a growth of 21%.
• Operating Profit for the quarter is Rs. 2,623 crores as against Rs. 1,992 crores in the corresponding quarter of the previous year, showing a growth of 32%.
• Net Profit for the quarter is Rs. 1,401 crores as against Rs. 920 crores in the corresponding quarter of the previous year, showing a growth of 52%.
• CASA (Current Accounts- Savings Accounts) Ratio stands at 41.43% as on September 30, 2019 as against 43.62% as on September 30, 2018.
• Total Advances as on September 30, 2019 is at Rs. 1,97,113 crores as compared to Rs. 1,63,145 crores on September 30, 2018, recording a growth of 21%.
• Total Deposits as on September 30, 2019 is at Rs. 2,07,193 crores as compared to Rs. 1,68,219 crores on September 30, 2018, up by 23%. Total Business is at Rs. 4,04,306 crores.
• Savings accounts balance as on September 30, 2019 is at Rs. 58,117 crores, rose 14% from Rs. 51,106 crores as on September 30, 2018.
• Net NPA as on September 30, 2019 is at 1.12% as against 0.48% on September 30, 2018
• Increase in network to 1753 Branches / banking outlet and 2662 ATMs as on September 30, 2019 as against 1466 Branches / banking outlet and 2372 ATMs as on September 30, 2018.

Performance highlights for the half year ended September 30, 2019:

• Net Interest Income (NII) for the half year is Rs. 5,753 crores as against Rs. 4,326 crores in the corresponding period of the previous year, registering a robust growth of 33%.
• Non-Interest income for the half year is Rs. 3,390 crores as against Rs. 2,619 crores in the corresponding period of the previous year, a growth of 29%.
• Core fee income for the half year is Rs. 2,890 crores as against Rs. 2,383 crores in the corresponding period of the previous year, marking a growth of 21%.
• Operating Profit for the half year is Rs. 5,214 crores as against Rs. 3,904 crores in the corresponding period of the previous year, showing a growth of 34%
• Net Profit for the half year is Rs. 2,833 crores as against Rs. 1,956 crores in the corresponding period of the previous year, showing a growth of 45%.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “During Q2, the Bank has witnessed healthy growth in its topline as well as in operating profits. The benefits of the merger with Bharat Financial Inclusion Ltd. (BFIL) are perceptibly visible and accretive to earnings. Deposit growth has been very strong in the last few quarters and has continued to remain robust in this quarter as well. We have also worked towards strengthening the Balance Sheet by taking up the Provision Coverage Ratio (PCR) from 43% to 50% during the Quarter. We will push forward into the subsequent quarters with the same 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 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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