IndusInd Bank Q1 updates recently released for the quarter ending June 30, 2024. The IndusInd Bank Q1 updates highlights the Net advances jump to 16% YoY and Net advances reached Rs.3,48,107 crore.
IndusInd Bank Q1 Updates FY25 results showcase robust growth and strong financial performance:
Net Advances: IndusInd Bank reported a robust 16% year-on-year (YoY) growth in net advances for the first quarter of the financial year 2025 (Q1 FY25), reaching Rs.3,48,107 crore as of June 30, 2024. This indicates a strong performance in lending activities compared to the same quarter last year.
On a sequential basis, the bank’s net advances also showed a 1% increase compared to the previous quarter ending March 31, 2024.
Deposits: The bank’s deposits grew by 15% year-on-year (YoY), reaching Rs.3,98,632 crore as of June 30, 2024. Deposits also showed a 1% sequential growth compared to the previous quarter ending March 31, 2024.
This increase in deposits signifies growing customer trust and confidence in IndusInd Bank. It also reflects the bank’s successful efforts to attract and retain customers through its various deposit products and services. Which indicating a growing customer base and trust in the bank.
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Net Interest Income (NII): Grew by 18% YoY to ₹4,867 crores, driven by higher advances and improved margins.
Net Interest Margin (NIM): Stood at 4.29%, reflecting efficient asset-liability management.
Pre-Provision Operating Profit (PPOP): Increased by 12% YoY to ₹3,831 crores, demonstrating operational efficiency.
Net Profit: Jumped by 30% YoY to ₹2,124 crores, indicating healthy profitability.
Operational Highlights:
- Retail Deposits: Grew by 21% YoY, driven by a focus on customer acquisition and retention.
- CASA Ratio: Stood at 36.7%, reflecting a healthy mix of current and savings accounts.
- Asset Quality: Improved, with lower fresh slippages and provisions compared to the previous year.
Other Updates:
- The bank continues to expand its distribution network, with 2,984 branches/banking outlets and 2,956 ATMs as of March 31, 2024.
- The client base has grown to approximately 39 million as of March 31, 2024.
Overall:
IndusInd Bank Q1 Updates FY25 results highlight its strong growth trajectory and focus on sustainable profitability. The bank has successfully navigated the challenges posed by the pandemic and is well-positioned for future growth.