etvfutures.com
etvfutures.com January 16, 2018


IndusInd Bank net rises 25%, vehicle finance to see 'boom'

13 January 2018, 04:24 | Cesar Cruz

As a percentage of total loans gross NPAs stood at 1.16% as compared to 1.08% in the previous quarter and 0.94% in the year-ago quarter

As a percentage of total loans gross NPAs stood at 1.16% as compared to 1.08% in the previous quarter and 0.94% in the year-ago quarter

Mumbai: IndusInd Bank on Thursday posted a mixed set of numbers when the private sector lender reported December quarter net profit in line with expectations but witnessed a marginal rise in bad loans.

Total income of the lender also increased to Rs 5,473.54 crore during the quarter under review, up 16.05 per cent as against Rs 4,716.13 crore over the corresponding period of the previous fiscal, IndusInd Bank said in a BSE filing.

"The highlight of the quarter really was balance sheet crossed Rs. 2 lakh crore for the first time", said Romesh Sobti, MD & CEO IndusInd Bank, during the post-earnings media interaction.

IndusInd Bank reported its quarterly results which were in-line with street estimates for Q3FY18.The bank's asset quality weakened while profitability improved on a quarterly basis.

Trump's Personal Lawyer Files Lawsuits Over Russia Dossier
Fusion GPS , which is based in Washington, D.C., hired Steele on behalf of its clients, the Clinton campaign and DNC. It is pertinent to mention several important details from the dossier have since been corroborated independently.


Net Interest Margin (NIM) remained subdued in Q3FY18 to 3.99%, compared to 4% each witnessed in Q3FY17 and Q2FY18 respectively. Compared with the second quarter of FY18, gross NPAs rose by eight basis points. The operating profit of the bank rose 22.1 per cent to Rs 1,664.69 crore.

"In spite of the growth in balance sheet of 25%, we have seen increase in return on assets, which went up from 1.9% last quarter to 1.96% this quarter". We saw a 34% increase in our disbursements on overall vehicle finance. It had recorded a net profit of Rs 750.64 crore in the year-ago period.

As far as the merger with Bharat Financial Inclusion is concerned, Sobti said the bank has already received approval from the Competition Commission of India, and is awaiting other approvals.



Other News

Trending Now

Leonardo DiCaprio Locked In For Quentin Tarantino's Charles Manson Movie
Tarantino has asked Margot Robbie to play slain actress Sharon Tate in the film, but Robbie's casting isn't final yet. The now untitled Quentin Tarantino Manson movie will open on August 9, 2019 .

Lalu aides in jail to 'serve' him? RJD denies charge
This is not the first time the two have accompanied the RJD chief to Ranchi jail. The sentences range from three-and-a-half-years to seven years imprisonment.

Threat of CBRN weapons becoming a 'reality', says Rawat
He also raised concern over "disinformation" being spread through social media, and through religious schools and mosques. Asked about Chinese incursions, he said, "We will not allow our territory to be invaded by anyone".

Saline shortage complicates flu treatment at hospitals nationwide
Only a few other companies make those solutions, and supplies never fully recovered after a 2014 shortage of saline bags. Many Americans in Puerto Rico are still without power four months after the island was hit by Hurricane Maria.

Top US lawmakers applaud Donald Trump on Pakistan
On Tuesday, Islamabad also summoned the US Ambassador David Hale , with details of that meeting not yet released. Pakistan's ambassador to the United States, Aizaz Chaudhry, arrived in Pakistan to attend the NSC meeting.

White House hails dip in Chinese trade with North Korea
One of the options to be discussed, he said, would be naval interdiction to stop North Korean smuggling. I'm not saying I have or haven't. "And maritime interdiction helps us to disrupt resources".

India Eases Foreign Investment Rules To Push Growth
It will lead to larger FDI inflows contributing to growth of investment, income and employment. For single brand retail trading, there is no approval required of the Government for 100% FDI.

Multiple Sam's Club stores close without notice across nation
A newer store northeast of Houston in New Caney was also removed from the Sam's website, and its phone lines were busy. According to Manzi, the store was closed Thursday, will re-open Friday, and is set to close permanently on January 26.

Feds spare Syracuse homeless program that forfeited $5.1 million
Local Massachusetts communities also report the number of persons experiencing long-term chronic homelessness decreased. Homelessness has risen this winter, with more people being listed without a permanent address.

Tears, Anguish As Benue Govt Buries Attack Victims
He said: "During Jonathan's administration these killings were not spread in the country as witnessed now". "I think Mr. The governor also rejected the suggestion for the state to create a cattle colony or grazing routes for herdsmen.