Latest News | IndusInd Bank Net Profit Jumps to Rs 1,964 Crore in December Quarter

Mumbai, Jan 18 (PTI) IndusInd Bank on Wednesday reported a 58 per cent jump in its December quarter net profit at Rs 1,964 crore, driven by improvements in asset quality and core income.

The private sector lender's net interest income grew 18 per cent to Rs 4,495 crore, driven by a 19 per cent loan growth and a 0.17 per cent widening in the net interest margin to 4.27 per cent.

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The other income grew to Rs 2,076 crore during the October-December period from Rs 1,877 crore in the year-ago period. This included an 11 per cent growth in the total fee income at Rs 2,077 crore, the bank said.

The bank was able to post a 14 per cent growth in the overall deposits driven by the retail deposits amid a wide divergence in the credit-deposit growth numbers in the system which has triggered what some bankers call as a war for deposits.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)