2016-17 was a watershed year for the Indian Banking Sector. Reforms initiated by theGovernment to improve efficiency and performance of banks have given a big push to onlineand digital banking and bolstered the move towards a cashless economy. Withdemonetisation technology-based services became the driving force behind the Sector. Bythe end of fiscal 2017 the digital push had transformed not just banking but alsopeople's lives in a positive way. Amidst all this change Induslnd Bank also embraceddigital technology in a robust and sustainable manner and adapted to the changes throughSound Responsible and Sustainable banking. During the year we reached out to new Retailand Corporate customers across the country including those at the bottom of the pyramid.Sustainability which forms the bedrock of our corporate governance has been the key tothe Bank's continued success.
The Bank's financials remain on a firm footing registering consistently strong growthacross all parameters.
Our Net Profit rose 25 per cent in the year to Rs. 2867.89 crore. Net Interest Incomewas up 34 per cent at Rs. 6062.60 crore. Non-Interest Income rose 27 per cent to Rs.4171.49 crore. The Return-on-Assets stood at 1.86 per cent. Total Advances and Depositsgrew by 28 per cent and 36 per cent respectively.
Our digital push continued unabated during the past year. We intensified our onlinebanking efforts and improved our services. We continued to innovate launching a newconvenient and secure service called Fingerprint Banking' which allows customers toconduct end-to-end transactions via the IndusMobile banking app using just theirfingerprint.
As part of the efforts to broaden our service offering we acquired the SecurityServices subsidiary of IL&FS in a strategic move that will allow us to createdifferentiated businesses under the Induslnd umbrella with ready domain expertise. I amvery excited about the opportunities this acquisition can create for our overall business.
Over the last few years we have made a commitment to give back to society. Weharnessed the power of sport for change through our Induslnd for Sports' initiative- the cornerstone of our CSR strategy. We teamed up with GoSports Foundation forJeetkaHalla' a campaign that aimed to support para-athletes under the Induslnd ParaChampions Programme. We also joined hands with the Cricket Association for the Blind inIndia (CABI) to garner support generate passion and create visibility for Blind Cricketat all levels. The moment of pride was when our paralympians and #TheOtherMenlnBlue wonthe top honours at the Rio Paralympics and T20 World Cup Cricket for the Blindrespectively bringing laurels at the global level.
It is gratifying to see our hard work throughout the year recognised and rewarded bynumerous accolades. We were honoured with the Best Technology Bank' award anddeclared runner-up in the Best IT Risk and Cyber Security Initiative' and BestPayment Initiatives' categories at the IBA Banking Technology Conference Expo &Awards 2017 among other honours. Our Bank also featured in Forbes' list of Super 50Companies in India. Moreover we went up a place to be ranked No.12 in Kantar MillwardBrown and WPP's prestigious Brandz Top 50 Most Valuable Indian Brands 2016' listwith a value of $1.8 billion up 18 per cent from last year.
To conclude I would like to congratulate everyone on successfully navigating thechallenges this year. We wouldn't have done so without two of our most importantstakeholders - our customers and our employees. I offer my sincere gratitude for theirunwavering commitment to the Bank.
I would also like to thank the central regulatory authorities and agencies for theirsupport.
Finally my sincere appreciation to my colleagues on the Board for guiding andsupporting the management team in its endeavours.
Managing Director & CEO