IndusInd Bank posts 3.2% quarterly growth in net advances

By: |
January 6, 2021 1:15 AM

Private lender IndusInd Bank has registered a 3.2% quarter-on-quarter (q-o-q) growth in the net advances in the December quarter, according to provisional data released by the bank.

The share of current account and savings account (CASA) deposits grew 10 basis points (bps) at 40.5% in the December quarter, compared to 40.4% in the September quarter.

Private lender IndusInd Bank has registered a 3.2% quarter-on-quarter (q-o-q) growth in the net advances in the December quarter, according to provisional data released by the bank on Tuesday. However, the loan growth remained flat during the quarter on a year-on-year (y-o-y) basis. The lender has also managed a 5% quarterly growth in deposits during the December quarter of the current fiscal. On a y-o-y basis, the deposits saw a double-digit growth of 10.56% in the December quarter.

In absolute numbers, the total loan book grew to Rs 2,07,691 crore at the end of December compared with Rs 2,01,247 crore in the preceding quarter. Similarly, the deposits grew to Rs 2,39,600 crore from Rs 2,28,279 crore in the September quarter, the bank said in a notification to exchanges. “Retail deposits and deposits from small business customers amounted to Rs 85,914 crore as of December 31, 2020, as compared to Rs 75,610 crore as of September 30, 2020,” the bank said.

The share of current account and savings account (CASA) deposits grew 10 basis points (bps) at 40.5% in the December quarter, compared to 40.4% in the September quarter. Another private lender Yes Bank on Monday reported a 1.3% quarterly growth in loans and advances to Rs 1.69 lakh crore during the December quarter. Deposits of the lender grew 7.7% to Rs 1.46 lakh crore in the December quarter, compared to Rs 1.36 lakh crore in the September quarter.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1S&P revises Vedanta Resources outlook from ‘negative’ to ‘stable’
2Mines ministry proposes policy changes to spur iron ore production
3Aadhaar Enabled Payments: Taking banking services to the doorsteps of the underserved