IndusInd Bank share price soars as deposits rise 11% YoY in Q3 FY21

IndusInd Bank rose 1.16% to Rs 908 after the private lender said its deposits increased 11% to Rs 2,39,600 crore in Q3 December 2020 from Rs 2,16,713 crore in Q3 December 2019.

Deposits rose 4.96% last month compared with Rs 2,28,279 crore in Q2 September 2020. Retail deposits and deposits from small business customers amounted to Rs 85,914 crore in Q3 FY21, up by 13.63% from Rs 75,610 crore in Q2 FY21.

IndusInd Bank’s net advances stood at Rs 2,07,691 crore in Q3 FY21, a tad higher compared with Rs 2,07,413 crore in the same period last year.

Sequentially, the bank’s net advances rose 3.20% in December 2020 from Rs 2,01,247 crore in Q2 FY21.

CASA ratio was at 40.5% as of December 30, 2020, as against 42.4% as of December 30, 2019, and 40.4% as of September 30, 2020.

IndusInd Bank caters to the needs of both consumer and corporate customers.

The bank reported a 53.2% decline in net profit to Rs 647.04 crore on 1.6% fall in total income to Rs 8,731.05 crore in Q2 FY21 over Q2 FY20.

Subscribe to our newsletter
Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time