Our website uses cookies to provide your browsing experience and relavent informations.Before continuing to use our website, you agree & accept of our Cookie Policy & Privacy Policy
Asset quality impacted by high slippages: The bank has witnessed some pressure from high slippages of loans on asset quality in Q1FY2025.
Asset Quality Indicators: Indusind Bank
'
Jun-24
Mar-24
Dec-23
Sep-23
Jun-23
Variation
QoQ
YoY
Variation in basis points for figures given in percentages and in % for figures in Rs crore
Business Highlights:
Healthy business growth: The business of the bank has increased 15% YoY to Rs 746411 crore end June 2024, driven by 15% surge in advances to Rs 347898 crore. Deposits rose 15% to Rs 398513 crore at end June 2024.
CASA deposits ratio declines: The CASA deposits of the bank increased 6% YoY to Rs 146134 crore at end June 2024. The current account deposits declined 2% to Rs 48475 crore, while saving account deposits increased 10% to Rs 97659 crore end June 2024. The CASA ratio declined to 36.7% at end June 2024 compared to 39.9% at end June 2023, while eased from 37.9% a quarter ago.
Healthy retail loan growth: Advances growth was driven by retail loans rising 18% YoY to Rs 190625 crore at end June 2024. The credit to MSME moved up 16% to Rs 72228 crore at end June 2024. The corporate credit has moved up 10% to Rs 85045 crore end June 2024.
Investment book of the bank rose 7% YoY to Rs 101024 crore at end June 2024.
Margins ease slightly: The bank has showed 41 bps YoY jump in cost of deposits to 6.53%, while yield on advances increased 33 bps YoY to 12.57% in Q1FY2025. Thus, the NIM has declined marginally by 4 bps YoY to 4.25%.
Branch expansion: The bank has added 29 branches and 32 ATMs in Q1FY2025, taking overall tally to 3013 branches and 2988 ATM`s end June 2024.
Book value of the bank stood at Rs 838.8 per share at end June 2024, while the adjusted book value (net of NNPA and 10% of restructured advances) was Rs 810.4 per share at end June 2024.
Quarterly Performance
NII rises on steady NIMs: Bank has recorded 17% increase in the interest earned at Rs 12546.77 crore, while interest expenses increased 22% to Rs 7139.14 crore in Q1FY2025. NII improved 11% to Rs 5407.63 crore in the quarter ended June 2024.
Healthy growth in the core fee income: Bank has posted strong 15% growth in core fee income to Rs 2143 crore, while the treasury income declined 2% to Rs 93 crore. The forex income dipped 22% to Rs 205 crore. The overall non-interest income increased 10% to Rs 2441.25 crore in the quarter ended June 2024.
Expenses ratio rises: The operating expenses of the bank increased 21% to Rs 3922.19 crore, as other expenses moved up 21% to Rs 2882.54 crore, while employee expenses increased 20% to Rs 1039.65 crore in Q1FY2025. Cost to income ratio increased to 50.0% in Q1FY2025 compared with 45.9% in Q1FY2024. Operating Profit increased 3% to Rs 3926.69 crore.
Provisions and contingencies rises: The bank has showed 6% rise in provisions to Rs 1049.84 crore.
Effective tax rate was flat at 25.2% in Q1FY2025 from 25.2% in Q1FY2024. Net Profit rose by 1% YoY to Rs 2152.16 crore during quarter ended June 2024.
Financial Performance FY2024:
Indusind Bank: Results
Particulars
2406 (3)
2306 (3)
Var %
2403 (12)
2303 (12)
* Annualized on current equity of Rs 778.72 crore. Face Value: Rs 10, Figures in Rs crore
Source: Capitaline Corporate Database
Powered by Capital Market - Live News