IndusInd Bank Q2 results in post net profit declined 53% to Rs 663 crores

IndusInd Bank Q2 results in post net profit declined 53% to Rs 663 crores

Friday on Indusind Bank announced the Q2 Finance results reported Consolidated Net profit 30% increase for QoQ to Rs.663 crores. The previous year net profit compares this Rs.1,401 crore decline of 53% year-on-year.

The Pre Provision operating profit up 3.66% to Rs.2,852 crores as against last year the same quarter Rs.2,623 crores. Private Bank of IndusInd Bank total income 8,732 crores.

NII (Net Interest Income) for this quarter Rs.3,278 crores as last year the same quarter NII Rs.2,909 crores. Net Interest Margin for Q2FY21 at 4.16%. Operating expenses for this quarter 1,980 crores as against previous year expenses Rs.2,013 crore.

IndusInd Bank total Deposit growth on 10% to Rs.2,27,884 crores in September 30, 2020. CASA (Current Account and Saving Account) 40% increased on the total deposit. Advance as of September 30,2020 were Rs.2,01,27 crores.

IndusInd Bank CEO of Mr. Sumant Kathpalia said; ‘Withe the lockdown gradually being lifted across the country, we have positioned ourselves nicely to participate in the phased economic revival. The bank raised capital of Rs.3,288 crores from marquee investors which have raised capital adequacy to 16.55%. We look forward to building growth momentum in the second half of the years.

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