Net advances of IndusInd Bank rise 20% to Rs 3.26 trillion in Q3 FY24

Private sector lender IndusInd Bank has reported a 20 per cent year-on-year (Y-o-Y) growth in net advances to Rs 3.26 trillion in the third quarter of the financial year 2024, according to an exchange filing.

Sequentially, IndusInd Bank's growth in loans was 4 per cent in Q3 FY24 compared to the quarter ended in September 2023.

Credit offtake for the fortnight ending December 15, 2023, rose by 20.1 per cent Y-o-Y to reach Rs 158.1 trillion.

Further, the total deposits surged by 13 per cent to Rs 3.70 trillion in the quarter ended December 31, 2023, from Rs 3.25 trillion in the year-ago period.

The deposits in the industry grew by 14.1 per cent from the year ago for the fortnight ending December 15, 2023, to Rs 198.8 trillion.

Retail Deposits and Deposits from small business customers amounted to Rs 1.65 trillion as of December 31, 2023, as compared to Rs 1.57 trillion as of September 30, 2023.

The CASA Ratio of the bank was at 38.5 per cent as compared to 42 per cent as of December 31, 2023.

Separately, Ujjivan Small Finance Bank posted a 27 per cent improvement in its gross loan book to Rs 27,791 crore from Rs 21,895 crore on December 31, 2022.

The loan book includes Inter Bank Participation Certificates (IBPC)/Securitization of Rs 1,596 crore as on December 2023 as compared to Rs 1,619 crore as on December 2022.

The deposit of the small finance bank was 29 per cent growth up at Rs 29,869 crore from Rs 23,203 crore in the same quarter last year.

CASA ratio of the bank dropped down to 26.2 per cent from 25.3 per cent.