Dailymirror.news,31 January 2025:IndusInd Bank Limited’s Board of Directors has approved the bank’s financial results for the quarter and nine months ending December 31, 2024, at a meeting held in Mumbai on January 31, 2025.

  • Net Interest Margin (NIM) stands at 3.93%, Net NPA at 0.68%, Provision Coverage Ratio at 70%, and Capital Adequacy Ratio (CRAR) at 16.46%.
  • CASA Ratio is 35%, and Liquidity Coverage Ratio is 118%, reflecting the strong operating performance and capital adequacy of the bank.

Consolidated Financial Results

The financial results of IndusInd Bank include the performance of its wholly owned subsidiary, Bharat Financial Inclusion Limited (BFIL), and associate IndusInd Marketing and Financial Services Private Limited (IMFS).

Profit & Loss for the Quarter Ending December 31, 2024:

  • Net Interest Income (NII): ₹5,228 crores (down from ₹5,296 crores in Q3 FY 24).
  • Net Interest Margin: 3.93%, compared to 4.29% in Q3 FY 24.
  • Yield on Assets: 9.63% (down from 9.75% in the previous year).
  • Cost of Funds: 5.70% (up from 5.46% in the previous year).
  • Other Income: ₹2,355 crores (down from ₹2,396 crores in Q3 FY 24).
  • Core Fee: ₹2,123 crores (down from ₹2,165 crores).
  • Operating Expenses: ₹3,982 crores (up 9% from ₹3,649 crores).
  • Pre-Provision Operating Profit (PPOP): ₹3,601 crores (down from ₹4,042 crores in Q3 FY 24).
  • Net Profit: ₹1,402 crores (down from ₹2,301 crores).

Profit & Loss for Nine Months Ending December 31, 2024:

  • Net Interest Income: ₹15,983 crores (up 5% from ₹15,239 crores in the same period last year).
  • Fee and Other Income: ₹6,982 crores (up 1% from ₹6,888 crores).
  • Total Income: ₹45,015 crores (up from ₹40,437 crores).
  • Operating Expenses: ₹11,812 crores (up from ₹10,345 crores).
  • Total Expenditure: ₹33,863 crores (up from ₹28,655 crores).
  • Pre-Provision Operating Profit (PPOP): ₹11,152 crores (down from ₹11,783 crores).
  • Net Profit: ₹4,904 crores (down from ₹6,628 crores).

Balance Sheet as of December 31, 2024:

  • Total Assets: ₹5,49,499 crores (up 12% from ₹4,88,865 crores in December 2023).
  • Deposits: ₹4,09,438 crores (up 11% from ₹3,68,793 crores).
  • CASA Deposits: ₹1,42,818 crores (35% of total deposits).
  • Retail Deposits: ₹1,88,731 crores (up 14% YoY).
  • Advances: ₹3,66,889 crores (up 12% YoY).
  • Gross NPA: 2.25% (up from 2.11% as of September 30, 2024).
  • Net NPA: 0.68% (up from 0.64% as of September 30, 2024).
  • Provision Coverage Ratio: 70%.
  • Total Loan Provisions: ₹8,792 crores (2.4% of the loan book).
  • Total Capital Adequacy Ratio (CRAR): 16.46% (down from 17.86% in December 2023).
  • Tier 1 CRAR: 15.18% (down from 16.47%).

As of December 31, 2024, IndusInd Bank’s network comprised 3,063 branches and banking outlets, and 2,993 ATMs, compared to 2,728 branches and 2,939 ATMs in December 2023. The client base stood at 42 million.

Mr. Sumant Kathpalia, Managing Director & CEO, IndusInd Bank, commented on the bank’s performance: “The Indian economy has stabilized after the slowdown in Q2, which is reflected in the strong recovery in retail disbursements. The bank’s loan book grew by 12% YoY, and deposits grew by 11%.

While operating and net profits were stable, asset quality remains a focus. The bank remains cautious about unsecured loans and will calibrate growth accordingly. We are well-positioned to benefit from fiscal and regulatory measures, particularly in rural and vehicle finance sectors.”

The performance highlights the bank’s solid foundation and its preparedness to navigate evolving economic conditions.