IndusInd Bank Net Profit Up By 26% For FY2018, Q1 2018-19 Net Profit Is Rs 1,035 Crore

News World India | 0
| July 11 , 2018 , 11:08 IST

When the banking system has been struggling after lending bad loans, IndusInd Bank on Tuesday has recorded a net profit of Rs 1035 crore in the very first quarter ending June FY18-19. The bank's strong performance has been continued from Q4 2018 as net profit in that quarter up by 27 percent at Rs. 953.09 crores along with Net Interest Income Which was up by 20 percent in Q4 FY2017-18.

Bank Net Profit was up by 26 percent for FY 2017-18 at Rs. 3,605.99 crores, Deposit growth up 20 percent, Credit growth up 28 percent, CASA growth up 43 percent and Saving Deposit Growth up 70 percent.

Gross NPA (Non-Performing Assets) was recorded flat at 1.17 percent while Capital Adequacy Ratio (CRAR) stood at 15.03 percent. Dividend Proposed stood 75 percent in against 60 percent in the previous year. Operating Profit for the quarter is Rs. 1,769.39 crores as against Rs. 1,572.23 crores in the corresponding quarter of the previous year, showing a growth of 13 percent, as per the IndusInd Bank blog on July 5.

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Romesh Sobti, MD & CEO, IndusInd Bank commenting on the performance said, “The year 2017-18 has been a challenging year for the banking sector. In this environment, our Bank has sustained its growth story and maintained momentum in its financial numbers, which have grown steadily."

IndusInd Bank established in 1994 is known for its technology platform that supports multi-channel delivery mechanism. IndusInd Bank has 1,320 branches, and 2,162 ATMs operating across 702 locations around the country as on December 31, 2017. The Bank also has representative offices in foreign countries like London, Abu Dhabi and Dubai.