IndusInd Bank FY05 credit growth at 45%

IndusInd Bank today reported a 45% rise in advances at Rs 9,500 crore for the year ended March 31, 2005.

"The bank has seen robust growth in loan portfolio in retail, including auto, and small and medium size segment," Bhaskar Ghose, managing director of the bank, said on the sidelines of the launch of bill payments and retail initiatives for mobile recharge today.

"The opening of new branches and aggressive follow-ups helped to attain high credit growth, which is likely to maintain similar trend in 2005-06,"  Ghosh said.

The actual growth of the loan portfolio was higher at Rs 12,500 crore, but the bank has securitised loans of Rs 3,000 crore in 2004-05 releasing resources for further lending, he said.

The deposit base grew to Rs 13,000 crore as on March 31, 2005, and growth was expected to be in the range of 20-25% in the current fiscal, he added.