The Board of Directors of Indusind Bank Limited approved the financial results of the Bank for the Quarter ended June 30, 2022, at their meeting held in Mumbai on Wednesday, July 20, 2022.

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  • Net Interest Income (NII) grew by 16% YoY to ₹4,125 crores from ₹3,564 crores
  • NIM improved to 4.21% as compared to 4.06% as at June 30, 2021 and 4.20% as at March 31, 2022
  • Other income grew by 12% YoY to ₹1,932 crores from ₹1,723 crores
  • Net Profit grew by 61% YoY to ₹1,631 crores from ₹1,016 crores
  • Deposits grew by 13% YoY to ₹3,02,719 crores from ₹2,67,233 crores
  • CASA grew by 16% YoY savings deposits grew by 19% YoY to ₹95,243 crores from ₹79,928 crores
  • Gross NPA and Net NPA ratios improved to 2.35% and 0.67% from 2.88% and 0.84% YoY respectively and PCR at 72% as at June 30, 2022
  • CRAR as on June 30, 2022 at 18.14% as compared to 17.57% on June 30, 2021

NIM at 4.21%, Net NPA at 0.67%, Provision Coverage Ratio at 72%, Capital adequacy (CRAR) ratio at 18.14% CASA at 43.11 % and Liquidity Coverage Ratio at 124% underscore the strength ofoperating performance of the Bank and adequacy of capital and liquidity buffers.

Net Profit for the quarter ended June 30, 2022 was ₹1,631 crores as compared to ₹1,016 crores during corresponding quarter of previous year up by 61% YoY. Pre Provision Operating Profit (PPOP) at ₹3,43 l crores for the quarter ended June 30, 2022 registered a growth of 10% over the corresponding quarter of previous year at ₹3,121 crores. PPOP / Advance ratio for the quarter ended June 30, 2022 steady at 5.70%.

Net Interest Income for the quarter ended June 30, 2022 at ₹4,125 crores, grew by 16% YoY and 4% QoQ. Net Interest Margin for Q1FY2023 stood at 4.21% against 4.06% for Q1 of FY 2022 and 4.20% for Q4 of FY 2022

Other income at ₹1,932 crores for the quarter ended June 30, 2022 as against ₹1,723 crores for the corresponding quarter of previous year, grew by 12% YoY. Core Fee grew by 47% to ₹1,786 crores as against ₹1,214 crores for the corresponding quarter of previous year.

Operating expenses for the quarter ended June 30, 2022 were ₹2,626 crores as against ₹2,166 crores for the corresponding quarter of previous year, grew by 21%.

The loan book quality remains stable. The Gross NPA were at 2.35% of gross advances as on June 30, 2022 as against 2.27% as on March 31, 2022. Net Non-Performing Assets were 0.67% of net advances as on June 30, 2022 as compared to 0.64% on March 31, 2022.

The Provision Coverage Ratio was consistent at 72% as at June 30, 2022.Provisions and contingencies for the quarter ended June 30, 2022 were ₹1,251 crores as compared to ₹1,780 crores for the corresponding quarter of previous year, reduced by 30% YoY. Total loan related provisions as on June 30, 2022 were at ₹8,370 crores (3.38% of loan book).

The Bank’s Total Capital Adequacy Ratio as per Basel III guidelines improved to 18.14% as on June 30, 2022, as compared to 17.57% as on June 30, 2021. Tier I CRAR was at 16.55% as on June 30, 2022 compared to 16.87% as on June 30, 2021.Risk-Weighted Assets were at ₹3,03,118 crores as against ₹2,72,367 crores a year ago.

Indusind Bank;Net Interest Income (NII) grew by 16% YoY to Rs 4,125 crores from Rs 3,564 crores, Deposits grew by 13% YoY to Rs 3,02,719 crores from Rs 2,67,233 crores