Indian regional lender, IndusInd Bank, has
posted a net profit of INR5.77bn ($129.7m) for the 12 months to 31
December, an increase of 65% from the previous year.
Net interest income rose
by 55% to INR13.76bn while non-interest income was 29% ahead at
INR7.14bn.
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Other highlights
included:
- An improvement in IndusInd’s CASA
(Current Accounts-Savings Accounts) ratio – it rose to 27.15%
against 23.67 % in the prior fiscal year; - Net NPA declined to 0.28% from 0.50% as
at 31 March 2010; - Deposits increased year-on-year by 29% to
INR34.4bn, and - Advances rose by 27% to INR26.2bn over
the same period.
IndusInd ended the
financial year with a branch network of 300 outlets, a net increase
of 90 units during the year. Over the same period, it increased its
ATM network from 497 to 594.
In early April, IndusInd
announced plans to acquire Deutsche Bank’s credit card business in
India.
IndusInd is planning to
launch a credit card for its own customers during the
July-September quarter of the current financial year.
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By GlobalDataRomesh Sobti, MD &
CEO, IndusInd Bank said:
“For 12 quarters running
now, the bank has delivered trended and robust growth in topline
revenues and after tax profit supported by a well diversified loan
book, improved liability portfolio and consistent revenues from
core fee income.
