IndusInd Bank: Strong show in tough times

The bank tapped into rising footfall to boost cross-selling

The December quarter was full of sudden pressures as well as opportunities thrown up by demonetisation. Banks, in particular, were expected to witness heightened pressure on their financial performance as they had to contend with a surge in deposits. IndusInd Bank, the first bank to announce third-quarter numbers, though put these concerns to rest and continued to post healthy loan growth, margins and asset quality. Its net profit grew 29 per cent, year on year, to Rs 751 crore and was slightly above the Bloomberg consensus estimate of Rs 725 crore. Loan growth, too, was robust at 25 per cent,