IndusInd Bank records 4% loan growth till June 30

By: |
July 7, 2020 2:40 AM

The promoters of IndusInd Bank currently have a holding of 14.68%, which is very close to the current regulatory cap of 15%.

The bank has registered a 6% y-o-y increase in deposits to Rs 2,11,970 crore at the end of the first quarter of the fiscal, compared with Rs 2,00,586 crore a year ago.

Private sector lender IndusInd Bank recorded a 4% increase in net advances year-on-year (y-o-y) till June 30. IndusInd Bank said in a stock exchange filing that its net advances rose to Rs 2,00,357 crore as on June 30, 2020 from Rs 1,93,520 crore a year ago. However, bank’s net advances declined 3.1% compared to March 31, 2020, when it stood at Rs 2,06,783 crore.

The bank has registered a 6% y-o-y increase in deposits to Rs 2,11,970 crore at the end of the first quarter of the fiscal, compared with Rs 2,00,586 crore a year ago. The retail deposits and deposits from small business customers amounted to Rs 67,318 crore till June 30, it said. Even sequentially, the bank has registered 4.9% growth in deposits, compared to Rs 2,02,040 crore in March,2020. The lender had a current and savings account (CASA) ratio of 40.2% as on June 30, 2020, compared to 40.4% as on March 31, 2020 and 43% as on June 30, 2019.

Earlier, private lender HDFC Bank had reported a 21% y-o-y growth in advances to Rs 10,04,500 crore as of June 30, 2020, as compared to Rs 8,29,700 crore till June 30, 2019. HDFC bank’s advances as on March 31, 2020, were at Rs 9,93,700 crore. Similarly, bank’s deposits aggregated to Rs 11,89,500 crore till June, 2020 registering a y-o-y growth of 25% as compared to Rs  9,54,600 crore in June, 2019.

IndusInd Bank had disclosed last month that promoters will purchase additional shares from the open market. The promoters of IndusInd Bank currently have a holding of 14.68%, which is very close to the current regulatory cap of 15%. In April, the bank had said that the promoters had approached Reserve Bank of India (RBI) for increasing their permissible holdings to 26%.

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