scorecardresearchQ3 Earnings: IndusInd Bank net profit jumps 58% to ₹1,964 crore in December quarter

Q3 Earnings: IndusInd Bank net profit jumps 58% to 1,964 crore in December quarter

Updated: 18 Jan 2023, 07:20 PM IST
TL;DR.
  • 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 bank was able to post a 14 per cent growth in the overall deposits driven by the retail deposits.

The bank was able to post a 14 per cent growth in the overall deposits driven by the retail deposits.

(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.

 

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First Published: 18 Jan 2023, 07:20 PM IST