The RBI has also allowed the private sector lender to inject equity capital into the asset management subsidiary, the filing said. The banking regulator informed IndusInd Bank about the development in the matter through a letter on Monday.
Shares of IndusInd Bank closed at Rs 1,349.60 on the NSE on Monday, down Rs 14.55 or 1.07 per cent from Friday’s closing price.
IndusInd Bank had reported a consolidated profit after tax (PAT) of Rs 2,171 crore for the quarter ended June 30, 2024, up 2% from Rs 2,124 crore reported by the lender in the year-ago period. Net interest income (NII) grew 11% year-on-year to Rs 5,408 crore from Rs 4,867 crore in the year-ago period.
Net interest margin (NIM) remained stable at 4.25 per cent in Q1FY25 as against 4.29 per cent in Q1FY24 and 4.26 per cent in Q4FY24. Gross non-performing assets (GNPA) and net NPA ratios stood at Rs 2.02 per cent and 0.60 per cent, respectively, as against 1.94 per cent and 0.58 per cent, respectively, YoY, while PCR was reported at 71 per cent as on June 30, 2024. Capital to risk-weighted assets ratio as on June 30, 2024 stood at 17.55 per cent as against 18.40 per cent as on June 30, 2023. Operating profit before provisions (PPOP) stood at Rs 3,952 crore for the quarter. ended in June 2024, registering a growth of 3% over the corresponding quarter of the previous year when it was Rs 3,000 crore. Rs 3,831 crore. The average PPOP/advances ratio for the reported quarter stood at 4.78%.
Balance sheet as on June 30, 2024, was Rs 5,30,165 crore as against Rs 4,66,993 crore as on June 30, 2023, marking a growth of 14%. Deposits as on June 30, 2024, were reported at Rs 3,98,513 crore as against Rs 3,47,047 crore, an increase of 15% over June 30, 2023.
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