IndusInd Bank soared 15.63% to Rs 362.20 after the bank announced its quarterly business update on Monday, 6 April 2020.
The bank reported a 13% growth in net advances to Rs 2.09 lakh crore as on 31 March 2020 compared with Rs 1.86 crore as on 31 March 2019. As of 31 December 2019, the bank's net advances stood at Rs 2.07 lakh crore.
The bank's deposits advanced 4% to Rs 2.02 lakh crore as on 31 March 2020 as against Rs 1.94 lakh crore on 31 March 2019. As of 31 December 2019, the bank's deposits stood at Rs 2.16 lakh crore.
The retail deposits and deposits from small business customers jumped 34% to Rs 62,587 crore as on 31 March 2020 as against Rs 46,651 crore on 31 March 2019. As of 31 December 2019, the bank's retail deposits and deposits from small business customers stood at Rs 60,939 crore.
The CASA ratio stood at 40.5% as on 31 March 2020 as against 43.1% on 31 March 2019 and 42.4% as on 31 December 2019.
Liquidity Coverage Ratio for the quarter ended on 31 March 2020 stood at 112.18% compared with 111.39% in 31 March 2019 and 113.57% in 31 December 2019.
IndusInd Bank's standalone net profit jumped 32.92% to Rs 1,309.43 crore on a 25.47% surge in total income to Rs 9,074.55 crore in Q3 December 2019 over Q3 December 2018.
IndusInd Bank is engaged in banking and para-banking services. The bank is involved in accepting deposits, such as savings accounts, current accounts and fixed deposits, and banking solutions.
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