IndusInd Bank surges 14% in two days as asset quality improves in Q3

The private lender is looking to grow its loan book by 15-18 per cent YoY for the next two financial years under its fifth planning cycle

Shares of IndusInd Bank rallied 8 per cent to Rs 914 on the BSE in Monday's session, up 14 per cent in the past two trading days, after the bank posted a decent set of October-December quarter (Q3FY21) numbers with a 25 per cent quarter-on-quarter (QoQ) growth in net profit at Rs 830 crore, aided by improvement in core operating performance and lower provisions.

Net interest income (NII) increased 10.8 per cent year on year (YoY) and 3.9 per cent QoQ to Rs 3,406 crore. Net interest margin (NIM) stood at 4.12 per cent for the quarter ended December 2020.