IndusInd Bank Q2 deposits grow 10.26%

By: |
October 7, 2020 1:30 AM

In a provisional data released on exchanges, the bank said that its deposits grew by 10.26% to Rs 2.28 lakh crore, compared to Rs 2.07 lakh crore in the same period last year.

Net advances grew by 2% year-on-year to Rs 2 lakh crore, compared to Rs 1.97 lakh crore a year ago.Net advances grew by 2% year-on-year to Rs 2 lakh crore, compared to Rs 1.97 lakh crore a year ago.

Private lender IndusInd Bank registered a 10.26% year-on-year increase in its deposits and a 2% rise in its net advances during September quarter. However, the bank’s current account savings account (CASA) ratio in the September quarter declined 100 basis points year-on-year to 40.4%.

In a provisional data released on exchanges, the bank said that its deposits grew by 10.26% to Rs 2.28 lakh crore, compared to Rs 2.07 lakh crore in the same period last year.

Its deposits stood at Rs 2.11 lakh crore at the end of the first quarter of financial year 2020-21.

The bank also specified that deposits from retail and small business customers amounted to Rs 75,610 crore during September quarter, compared to Rs 67,318 crore as of June 30, 2020.

Net advances grew by 2% year-on-year to Rs 2 lakh crore, compared to Rs 1.97 lakh crore a year ago.

The advances stood at Rs 1.98 lakh crore as on June 30, 2020.

CASA ratio stood at 40.4% at the end of the second quarter, down 100 basis points compared to 41.4% as on September 30, 2019. CASA ratio remained at 40.1% at the end of June quarter.

Private lender HDFC Bank had earlier disclosed that its advances in September quarter grew 16% and deposits grew at 20% year-on-year.

Similarly current account savings account (CASA) ratio of the bank grew by 270 basis points year-on-year to 42% during September quarter.

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