IndusInd Bank gains as net advances rise 4% in Q1

IndusInd Bank rose 2.97% to Rs 501.70 after the bank said its net advances rose 4% to Rs 2,00,357 crore in Q1 June 2020 from Rs 1,93,520 crore from Q1 June 2019.

Net advances contracted 3.1% in Q1 FY21 from Rs 2,06,783 crore in Q4 March 2020.

Deposits stood at Rs 2,11,970 crore in Q1 FY21, up 6% from Rs 2,00,586 crore in Q1 FY20. On a quarter-on-quarter (QoQ) basis, deposits rose 4.9% in Q1 FY21 from Rs 2,02,040 crore in Q4 FY20.

Retail deposits and deposits from small business customers amounted to Rs 67,318 crore in Q1 FY21, or 31.8% of the total deposits reported during the quarter.

 

CASA ratio stood at 40.2% as on 30 June 2020 as against 43% as on 30 June 2020 and 40.4% as on 31 March 2020.

IndusInd Bank caters to the needs of both consumer and corporate customers. As of 31 March 2020, the bank's distribution network included 1,911 branches/banking outlets and 2,760 onsite & offsite ATMs across 751 geographic locations.

The bank's consolidated net profit fell 12.32% to Rs 315.25 crore on 21.30% rise in total income to Rs 9,158.80 crore in Q4 March 2020 over Q4 March 2019.

Powered by Capital Market - Live News