Cap On Private Sector Banks Promoter's Stake In Long Run May Be Raised Says RBI Internal Working Group
The private lender on Monday announced that its deposits increased by 27% to Rs 2,56,158 crore as of 31 March 2021 from Rs 2,02,040 crore as on 31 March 2020.Sequentially, deposits grew 7% as of 31 March 2021 compared with Rs 2,39,584 crore as on 31 December 2020.
Retail deposits and deposits from small business customers amounted to Rs 95,811 crore as of 31 March 2021 as compared to Rs 85,914 crore as of 31 December 2020.
The bank's net advances increased by 3% to Rs 2,13,049 crore as of 31 March 2021 from Rs 2,06,783 crore recorded in 31 March 2020. Sequentially, the bank's net advances grew by 3% as of 31 March 2021 from Rs 2,07,128 crore on 31 December 2020.
CASA ratio improved to 41.8% as on 31 March 2021 compared with 40.5% as on 31 December 2020 and 40.4% as on 31 March 2020.
Shares of IndusInd Bank were down 6.23% to Rs 931.45 amid broad based selloff.
IndusInd Bank is one of the leading private sector banks in India. The private lender's net profit tanked 34.4% to Rs 852.76 crore and total income fell 1.4% at Rs 8,946.96 crore in Q3 FY21 over Q3 FY20.
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