The bank's operating profit before provisions and contingencies rose 8.7% year on year to Rs 3,328.51 crore in Q4 FY22 over Q4 FY21. Profit before tax increased by 56% to Rs 1,864.99 crore in Q4 FY22 from Rs 1,195.84 crore in Q4 FY21.

Provision and Contingencies contracted 21.6% to Rs 1,463.52 crore in Q4 March 2022 over Rs 1,865.69 crore in Q4 March 2021. Provision coverage ratio stood at 72% as on 31 March 2022. Capital Adequacy Ratio stood at 18.42% in Q4 FY22 as compared to 17.38% in Q4 FY21 and 18.06% in Q3 FY22.

On the asset quality front, the bank's gross non-performing assets (NPAs) fell 4.8% to Rs 5,517.15 crore as on 31 March 2022 as against Rs 5,794.99 crore as on 31 March 2021. The ratio of gross NPAs to gross advances stood at 2.27% as on 31 March 2022 as against 2.67% as on 31 March 2021. The ratio of net NPAs to net advances stood at 0.64% as on 31 March 2022 as against 0.69% as on 31 March 2021.

Deposits as on March 31, 2022 were Rs 2,93,349 crore as against Rs 2,55,870 crore, an increase of 15% over 31 March 2021. CASA deposits increased to Rs 1,25,333 crore with current account deposits at Rs 36,507 crore and savings account deposits at Rs 88,826 crore. CASA ratio improved to 43% as on 31 March 2022 as against 42% as on 31 March 2021.

Commenting on the performance, Sumant Kathpalia, managing director & CEO of Induslnd Bank said, "The financial year 2021-22 saw considerable volatility with economic activity impacted by Covid second and third wave. The economy however showed strong resilience with activity levels now bouncing back to pre Covid levels across various segments, supported by effective policy measures. The bank too saw improvement across disbursements, deposits and asset quality with receding Covid impact. Our deposits grew by 15% while Joan growth accelerated to 12% during the year. We maintained our healthy profitability levels with net interest margin as 4.20% for FY22.”

He further added, “Our operating profits before provisions grew by 8% for Q4 and 10% for FY22. With improvement in our portfolio quality, our year-on-year provisions reduced by 10% for Q4 and 7% for FY22. This reflected in strong growth in our Net Profit of 51% YoY for Q4 and 64% YoY for the full year ended FY22. The GNPA and NNPA ratios improved to 2.27% and 0.64% from 2.67% and 0.69% YoY respectively. While the global economy is impacted by recent geopolitical developments, we believe India is well positioned to navigate the turbulence with continued fiscal and monetary policy support. The Bank too would participate in the growth recovery while remaining watchful on the economic developments."

IndusInd Bank caters to both consumer and corporate customers. As of 31March 2022, the bank's distribution network included 2,265 branches/banking outlets and 2,767 onsite and offsite ATMs, as against 2,015 branches/banking outlets and 2,872 onsite and offsite ATMs as of 31March 2021.

Shares of Indusind Bank lost 0.94% to close at Rs 978.20 on BSE, yesterday, 29 April 2022.