IndusInd Bank Q1 Net Profit up by 25 % to Rs. 525.04 Crore

Highlights Q1 FY 2016

• Key performance vectors stable

• Credit growth at 23%

• NIM steady at 3.68%

• Non-Interest Income up 26%

• Net NPA  stands at 0.31 %                                                                                                                                                                                                                                                                                                                                                

The Board of Directors of IndusInd Bank Ltd. today approved and adopted its Unaudited Financial Results for the first quarter ended June 30, 2015.

Performance Highlights at a Glance:

Key Ratios

Performance highlights for the Quarter ended June 30, 2015 are:

• Net Profit for the quarter was Rs. 525.04 crore as against Rs. 421.06  crore in the corresponding quarter of the previous year, showing a growth of 25 %

• Operating Profit for the quarter was Rs. 922.72 crore as against Rs. 749.20 crore in the corresponding quarter of the previous year, showing a growth of 23 %

• Net Interest Income (NII) was Rs. 980.66 crore as against Rs. 800.66 crore in the corresponding quarter of the previous year, registering a robust growth of 22%.

• Net Interest Margin (NIM) for the current quarter was 3.68 %  as against 3.66 % in the corresponding quarter of the previous year

• Net NPA was at  0.31% as compared to 0.33% as on June 30,2014

• Core Fee Income for the current quarter was Rs.598.93 crore as against Rs 486.52 crore in the corresponding quarter of the previous year, marking a growth of 23 %

• CASA (Current Accounts- Savings Accounts) Ratio is at  35% as against 33% in the corresponding quarter of the previous year

• Total Advances as on June 30, 2015 were at Rs.72,243 crore as compared to Rs. 58,664 crore in the corresponding quarter of the previous year, recording a growth of 23 %

• Total deposits as on June 30, 2015 were at Rs. 77,693 crore as compared to Rs. 63,893 crore in the corresponding quarter of the previous year, up by 22 %. Total Business at Rs 149,936 crore

• Increase in network to 811 Branches, and 1543  ATMs as against 638 Branches and 1238 ATMs  as on June 30, 2014

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “The Bank has delivered a sustained Net Profit growth of 25 % for the Q1 FY16.  Inspite of a tough operating environment, credit off-take has also increased to 23%. The  Bank’s gross and net NPA percentage have reduced, which is a testimony to the quality of the bank’s loan book.

Apart from maintaining a strong vectors , this quarter we announced several new initiatives namely partnering with Worldpay to offer domestic acquiring service in India, launch of Quickpay- An Instant money transfer service via SMS, E-mail & Social Media Platforms and the opening of fourth currency chest unit at Kolkata- all reflecting the Bank’s growth trajectory.’

About IndusInd Bank:

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel distribution network. As on June 30, 2015, IndusInd Bank has 811 branches and 1,543 ATMs spread across the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings a study published by the WPP and conducted by Millward Brown.

Ratings:

• ICRA AA+ for Lower Tier II subordinate debt program by ICRA

• ICRA  AA  for Upper Tier II subordinate debt program by ICRA

• CRISIL  A1+ for certificate of deposit program by CRISIL

• CARE AA+ for Lower Tier II subordinate debt program by CARE

• IND A1+ for Short Term Debt Instruments by India Ratings and Research

• IND AA+  for Lower Tier II subordinate debt program by India Ratings and Research

• IND AA  for Upper Tier II subordinate debt program by India Ratings and Research

• IND AA+  for Senior unsecured bonds program by India Ratings and Research                                                                                                                                                                                          

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Disclaimer:

“This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the bank and management, as well as financial statements.”