IndusInd Bank Shares Rise 1% on Robust Q3 Advances and Deposits Growth

4 Jan 2024 , 01:25 PM

IndusInd Bank shares rose nearly 1% in early trade on January 4 following a strong third-quarter performance.  At the time of writing, shares of IndusInd bank were trading at Rs 1644.80 which is a 2.77% hike than previous close.

The bank reported a robust 20% YoY growth in advances and a significant 13% surge in deposits, reaching Rs 3.69 lakh crore. Advances for the quarter stood at Rs 3.27 lakh crore, showing a sequential increase of 4% and a notable YoY growth of 20%.

The CASA ratio dropped to 38.5% in Q3FY24, down from 42% in the year-ago period and 39.4% in the previous quarter.

Retail deposits and small business customer deposits increased to Rs 1,65,353 crore, up from Rs 1,57,187 crore in the previous quarter. Over the past six months, IndusInd Bank stock provided a strong return of 15.97%, outpacing the Nifty’s gain of 5.31%.

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