IndusInd Bank Q2 net profit rises 25%

IndusInd Bank Q2 net profit rises 25%

The Board of Directors of IndusInd Bank Ltd has reported Results for the second quarter and first half-year ended September 30, 2017.

The Net Profit for the quarter was Rs. 880.10 crores as against Rs. 704.26 crores in the corresponding quarter of the previous year, showing a growth of 25 %.

Net Interest Margin (NIM) was stable at 4.00% for the current quarter and the corresponding quarter of the previous year.

Net Interest Income (NII) was Rs. 1,820.99 crores as against Rs.
1,460.31 crores in the corresponding quarter of the previous year, registering a robust growth of 25 %.

Non Interest income for the quarter was Rs. 1,187.57 crores as against Rs. 970.42 crores in the corresponding quarter of the previous year, a growth of 22 %

Core fee income for the quarter was Rs. 1,013.02 crores as against Rs. 825.57 crores in thecorresponding quarter of the previous year, marking a growth of 23 %.

Romesh Sobti, MD & CEO, IndusInd Bank said,“At the moment, India is best poised for growth and this is reflected in the positive growth  story during the quarter. Banks have adapted to the customers’ needs and are offering solutions that are need and situation based. Digitization is giving the much needed thrust to the vision of a cashless economy, and businesses are treading classified in the same direction. Against such dynamic changes in the economy,the Bank has maintained its sustained financials with steady numbers. The total business of the Bank has increased to Rs. 2,64,622 crores and we have  maintained our NIM at 4.00 %.”