Money & Banking

IndusInd Bank net advances up 4% in Q1

Our Bureau Mumbai | Updated on July 06, 2020

The IndusInd Bank scrip gained over 3 per cent on the BSE on Monday after the private sector lender reported a 6 per cent increase in deposits and a 4 per cent increase in net advances in the first quarter of the fiscal.

In a regulatory filing on July 5, IndusInd Bank said its net advances rose to ₹2,00,357 crore as on June 30, 2020 from ₹1,93,520 crore a year ago. However, it was lower than in March 31, 2020, when net advances amounted to ₹2,06,783 crore.

Its deposits rose to ₹2,11,970 crore at the end of the first quarter of the fiscal, compared with ₹2,00,586 crore a year ago. Retail deposits and deposits from small business customers amounted to ₹67,318 crore in the quarter under review, it said.

The lender had a CASA ratio of 40.2 per cent as on June 30, 2020 versus 40.4 per cent as on March 31, 2020 and 43 per cent as on June 30, 2019.

Published on July 06, 2020

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