IndusInd Bank, country’s private sector lender is expecting 25-30% growth in advances in the current financial year, regardless of increase in interest rates and the deteriorating macroeconomic environment. In the September quarter the bank has recorded a 29% increase in the size of its loan book to Rs 30,136 crore.
The bank is not facing any pressure on its mid-corporate and retail portfolio as of now. It will be following a cautious approach in extending new loans to firms that will be possibly impacted by currency fluctuation.
Private lender maintained its asset quality in the July-September quarter. Its net non-performing asset (NPA) ratio stood at 0.31%, little changed from the previous quarter. Its gross NPA ratio also remained almost unchanged at 1.09%.
The entity has reported a 45% rise in net profit to Rs 193 crore for the July-September quarter from Rs 133 crore in the same period last year. Its net interest income rose by 27% to Rs 419 crore during the period from Rs 330 crore a year ago.
