IndusInd Bank logs 18% growth in Q4 advances at ₹3.42 Trillion

5 Apr 2024 , 11:23 AM

IndusInd Bank, a private sector lender, reported on Thursday that its advances increased by 18% in the March quarter to ₹3,42,857 Crore, and was up 5% QoQ. Net advances amounted at ₹2,89,924 Crore at the end of the fourth quarter of the previous fiscal year, according to IndusInd Bank’s regulatory filing.

Bank’s Deposits increased by 14% to ₹3,84,789 Crore in the quarter under review, up from ₹3,36,438 Crore the previous year, according to the statement.

While the bank’s deposits and advances grew steadily, the CASA (current account savings account) ratio fell slightly to 37.9%, down from 38.5% QoQ and 40.1% year-on-year.

Meanwhile, Suryoday Small Finance Bank recorded a 41% growth in total advances to ₹8,650 Crore for the fourth quarter ended March 2024, compared to ₹6,114 Crore in the previous year.

Despite the modest dip, IndusInd Bank’s CASA ratio is strong, indicating a consistent mix of low-cost deposits. During the quarter, the bank had a one-time net outflow of ₹2,759 Crore in retail deposits as per the LCR (liquidity coverage ratio) due to regulatory measures against a fintech partner.

The bank’s retail and small business deposits reached ₹1,69,441 Crore on March 31, 2024, up from ₹1,65,371 Crore on December 31, 2023.

According to Basel III standards, the lender recorded a capital adequacy ratio of 17.86%, a little decrease from 18.21% in the previous quarter and 18.01% in the same quarter the previous year.

At around 11.14 AM, IndusInd Bank was trading 0.37% lower at ₹1,538.70 per piece, against the previous close of ₹1,544.45 on NSE. The counter touched an intraday high and low of ₹1,555.85, and ₹1,528.10, respectively.

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