IndusInd Bank Q2 net up 25%

Cornelia Mascio
Ottobre 12, 2017

A robust loan demand driven by those for commercial vehicles, and a dip on cost of funds due to a near doubling of its Casa deposits boosted private sector lender IndusInd Bank's net by 25 per cent to Rs 880.10 crore for the three months to September. The bank's net interest income, or the interest earned minus interest expended, rose 25 per cent on a year-on-year basis.

The bank's total income for Q2 was up 21 per cent at Rs 5,395.92 crore from Rs 4,456.15 crore reported during the corresponding quarter of the previous year. The bank's net non-performing asset rose marginally to 0.44% from 0.37%, a year ago. Consequently, the bank made higher provisioning of Rs 294 crore compared to Rs 214 crore in the year-ago quarter.

In percentage terms, IndusInd's gross NPA rose to 1.08% in Q2 versus 0.90% in Q2FY17 and 1.09% in Q1FY18.

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