Tuesday 28 January 2020
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business-standard - 14 days ago

IndusInd Bank posts 32.92 pc jump in Q3 net, NPAs swell

Private sector lender IndusInd Bank on Tuesday reported a 32.92 per cent jump in its December quarter consolidated net profit at Rs 1,309 crore on overall growth, but showed an uptick in non-performing assets. Its core net interest income was up 34 per cent to Rs 3,074 crore on a 20 per cent loan growth and a 0.15 per cent expansion in the net interest margin to 4.15 per cent. The fee income grew 22 per cent to Rs 1,790 crore. Total income during the period under review increased to Rs 9,073.93 crore from Rs 7,232.32 crore in the third quarter of the previous fiscal, IndusInd Bank said in a regulatory filing. The bank, first off the mark to report December quarter numbers, had to set aside extra amount of money to up its provision coverage ratio to 53 per cent from the earlier 43 per cent, that dented the bottomline. The bank s managing director and chief executive Romesh Sobti, who is set to retire in March, said it had to provide Rs 242 crore as provision for two accounts which were

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