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IndusInd Bank gained 2.87% to Rs 1,406.60 after the private lender's net advances improved to Rs 3,01,041 crore as of 30 June 2023, registering a growth of 21% as compared to Rs 2,47,960 crore as of 30 June 2022.
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On quarter on quarter (QoQ) basis, net advances grew by 4% as against Rs 2,89,924 crore posted on 31 March 2023.
The bank reported a 15% growth in deposits to Rs 3,47,356 crore as of 30 June 2023 from Rs 3,03,078 crore as of 30 June 2022 and a rise of 3% over Rs 3,36,438 crore as of 31 March 2023.
CASA ratio reduced to 39.9% as of 30 June 2023 compared with 43.2% as of 30 June 2022 and 40.1% as of 31 March 2023.
The retail deposits and deposits from small business customers amounted to Rs 1,50,691 crore as of 30 June 2023 as compared to Rs 1,43,021 crore as of 31 March 2023, recording a growth of 5.36%.
IndusInd Bank caters to both consumer and corporate customers. As of 31 March 2023, the bank's distribution network included 2,606 branches/ banking outlets and 2,878 onsite and offsite ATMs. The client base stood at approximately 34 million as on 31 March 2023.
The private lender's standalone net profit surged 49.89% to Rs 2,040.51 crore on 24.7% rise in total income to Rs 12,171.22 crore in Q4 FY23 over Q4 FY22.
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