IndusInd Bank Q1FY 17 net profit up by 26% to Rs661.38 crore-The Total Investment & Insurance Solutions

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11  July 2016 

Net profit  for  the  quarter (Q1FY17)  was  Rs661.38  crore  for IndusInd Bank, as  against  Rs525.04  crore  in  the  corresponding quarter of the previous year, showing a growth of 26%, according to a release from the bank.

Performance highlights for the quarter ended June 30, 2016 were:

(a) Operating profit for  the  quarter  was  Rs1,233.79  crore  as  against  Rs922.72  crore  in  the corresponding quarter of the previous year, showing a growth of 34%. The Total Investment & Insurance Solutions

(b)  Net Interest Income  (NII)  was  Rs1,356.42  crore  as  against  Rs980.66  crore  in  the corresponding quarter of the previous year, registering a robust growth of 38%. The Total Investment & Insurance Solutions

(c)  Net Interest  Margin  (NIM)  for  the  current  quarter  was  3.97% as  against  3.68%  in  the corresponding quarter of the previous year. 

(d)  Net NPA was at 0.38% as compared to 0.31% as on June 30, 2015 and 0.36% as on March 31, 2016. The Total Investment & Insurance Solutions

(e) Total advances as on June 30, 2016 were at Rs93,678 crore as compared to Rs72,243 crore in the corresponding quarter of the previous year, recording a growth of 30%. The Total Investment & Insurance Solutions

(f)  Total deposits as on June 30, 2016 were at Rs1,01,768 crore as compared to Rs77,693 crore in the corresponding quarter of the previous year, up by  31%. Total business at Rs1,95,446 crore.

(g) Increase  in  network  to  1,004  branches  and  1,885 ATMs  as  against  811  branches  and 1,543 ATMs as on June 30, 2016.

(h)  On 28 June 2016, the bank has commenced operations in International Finance Service Centre (IFSC) Banking Unit in Gujarat International Finance Tec City (GIFT), concluded the release from the bank.