Money & Banking

IndusInd Bank reports 11% growth in Q3 deposits

Mumbai | Updated on January 05, 2021

Private sector lender IndusInd Bank reported an 11 per cent growth in deposits in the third quarter of the fiscal compared to a year ago, though advances remained flat.

According to provisional numbers released for the quarter ended December 31, 2020, IndusInd Bank’s deposits grew 11 per cent to ₹2.39-lakh crore against ₹2.16-lakh crore in the same period a year ago. Its deposits amounted to ₹2.28-lakh crore at the end of the second quarter this fiscal.

“Retail deposits and deposits from small business customers amounted to ₹85,914 crore as of December 31, 2020, compared to ₹75,610 crore as of September 30, 2020,” it further said.

Net advances remained flat at ₹2.07-lakh crore at the end of the third quarter this fiscal. It was marginally lower at ₹2.01-lakh crore as on September 30, 2020.

The bank’s CASA ratio was 40.5 per cent as on December 31, 2020, versus 40.4 per cent in the previous quarter and 42.4 per cent a year ago.

On Tuesday, its scrip closed 2.68 per cent higher at ₹921.6 a piece on the BSE.

Published on January 05, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like