Indusind Bank Q3 FY15 Net Profit up by 29% to Rs. 447.19 Crores

Highlights Q3 FY 2015

Net Profit up by 29 % at Rs. 447.19 crores

NIM up at 3.67 %

Other Income grows by 27 %

Provision Coverage ratio (PCR) at 70.04%

Board of Directors of IndusInd Bank Ltd., today approved and adopted its Unaudited Financial Results for the third quarter ended December 31, 2014.

Key Ratios:

Performance highlights for the Quarter ended December 31, 2014 are:

• Net Profit for the quarter was Rs. 447.19 crores as against Rs. 346.90 crores in the corresponding quarter of the previous year, showing a growth of 29%

• Operating Profit for the quarter was Rs.773.84 crores as against Rs. 647.36 crores in the corresponding quarter of the previous year, showing a growth of 20%

• Net Interest Income (NII) was Rs.861.37 crores as against Rs. 730.08 crores in the corresponding quarter of the previous year, registering a growth of 18%

• Net Interest Margin (NIM) for the current quarter was 3.67% as against 3.65 % in the Q3 FY14

• Other Income grew by 27% to Rs. 610.75 crores as against Rs. 480.27 crores in the corresponding quarter of the previous year

• CASA (Current Accounts- Savings Accounts) Ratio rises to 34%

Performance highlights for the 9-month period ended December 31, 2014 are:

• Net Profit for the 9-month period ended December 31, 2014 was Rs. 1,298.45 crores as against Rs. 1,011.97 crores in the corresponding period of the previous year, up 28%

• Operating Profit for the 9-month period ended December 31, 2014 was Rs.2,247.71 crores against Rs. 1,876.88 crores in the corresponding period of the previous year, up 20%

• Net Interest Income was Rs. 2,495.14 crores as compared to Rs. 2,109.50 crores in the corresponding period of the previous year, up 18%

• As on December 31, 2014 the total Advances were at Rs. 63,847 crores and total Deposits were at Rs. 69,376 crores, showing a YoY growth of 21 % and 23% respectively

• Gross NPA in current Q3 stands at as 1.05% compared to 1.18% for the corresponding period of the previous year. Net NPA was at December 31, 2014 stands at 0.32% as compared to 0.31% for the corresponding period of the previous year

• Increase in Branch network from 573 and 1055 ATMs the previous year to 727 branches and 1350 ATMs spread over 475 geographical locations as on December 31, 2014

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, the Bank continued to deliver a good performance against a backdrop of continued economic slowdown. Growth in the bottom line is seen from improved NIM, diversified income streams and active cost management.”

He further added “During this quarter the Bank unveiled new marketing campaign on the latest proposition Video Branch service which was very successful in capturing the imagination of ever increasing tech savvy customer base.”

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 delivery capabilities. As on December 31, 2014, IndusInd Bank has 727 branches, and 1,350 ATMs spread across geographical locations of 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 on April 1, 2013, was included in the NIFTY 50 benchmark index. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings powered by the WPP and Millward Brown.

Ratings:

• ICRA has rated ICRA AA+ for Bank’s Lower Tier II Bonds and ICRA AA for Upper Tier II Bonds.

• CARE has rated CARE AA+ for Lower Tier II Bonds .

• CRISIL has rated CRISIL A1+ for certificate of deposit program

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

• IND AA for Lower Tier II Bonds by India Ratings and Research

• IND AA - for Upper Tier II Bonds by India Ratings and Research

Visit us at www.indusind.com

For results table, click here