The private lender's net advances jumped 18% to Rs 3,42,857 crore as of 31 March 2024 as compared to Rs 2,89,924 crore as of 31 March 2023.
On sequential basis, the banks net advances grew 5% to Rs 3,27,057 crore as on 31 December 2023.The bank reported a 14% growth in deposits to Rs 3,84,789 crore as of 31 March 2024 from Rs 3,36,438 crore as of 31 March 2023 and a rise of 4% to Rs 3,68,956 crore as of 31 December 2023.
CASA ratio reduced to 37.9% as of 31 March 2024 compared with 40.1% as of 31 March 2023 and 38.5% as of 31 December 2023.
The retail deposits and deposits from small business customers amounted to Rs 1,69,441 crore as of 31 March 2024 as compared to Rs 1,65,371 crore as of 31 December 2023, recording a growth of 2.46%.
During Q4FY24, the retail deposits as per LCR saw a one-time net outflow of Rs 2,759 crore following regulatory actions on a fin-tech partner of the bank.
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IndusInd Bank caters to both consumer and corporate customers. As of 31 December 2023, the bank's distribution network included 2,728 branches/ banking outlets and 2,939 onsite and offsite ATMs, as against 2,384 branches/ banking outlets and 2,894 onsite and offsite ATMs as of 31 December 2022. The client base stood at 38 million.
The private lender's standalone net profit increased 17.29% to Rs 2,297.85 crore on 21.11% rise in total income to Rs 13,968.10 crore in Q3 FY24 over Q3 FY23.
The scrip shed 0.71% to currently trade at Rs 1,532.90 on the BSE.
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