This translates to a significant increase over the Rs 2.73 lakh crore of net advances as of 31 December 2022. Sequentially, the bank also saw a healthy 4% growth in net advances.

The bank's deposit base also remained strong, growing 13% YoY to Rs 3.69 lakh crore compared to Rs 3.25 lakh crore the previous year. It is higher by 3% when compared with the deposit base of Rs 3.60 lakh crore as on 30 September 2023.

However, the CASA ratio, a key indicator of retail deposits, slipped slightly to 38.5% as of 30 December 2023, compared to 42% a year ago and 39.4% three months earlier.

IndusInd Bank caters to both consumer and corporate customers. As of 30 September 2023, the bank's distribution network included 2,631 branches/ banking outlets and 2,903 ATMs spread across geographical locations of the country and covering 1,43,000 villages while the client base stood at approximately 37 million.

The private lender's standalone net profit climbed 22.09% to Rs 2,181.47 crore on 26.22% rise in total income to Rs 13,529.53 crore in Q2 FY24 over Q2 FY23.