(PTI) IndusInd Bank on Wednesday reported a 58 per cent jump in its December quarter net profit at ₹1,964 crore, driven by improvements in asset quality and core income.
The private sector lender's net interest income grew 18 per cent to ₹4,495 crore, driven by a 19 per cent loan growth and a 0.17 per cent widening in the net interest margin to 4.27 per cent.
The other income grew to ₹2,076 crore during the October-December period from ₹1,877 crore in the year-ago period. This included an 11 per cent growth in the total fee income at ₹2,077 crore, the bank said.
The bank was able to post a 14 per cent growth in the overall deposits driven by the retail deposits amid a wide divergence in the credit-deposit growth numbers in the system which has triggered what some bankers call as a war for deposits.
