INDUSIND BANK RESULTS - FOR Q2 FY 2015-16 - NET PROFIT UP 30%; -NET NPA DOWN TO 0.31%

INDUSIND BANK RESULTS

Q2 FY 2015-16

INDUSIND BANK has declared excellent results for the second quarter of 2015-16

• IndusInd Bank Q2 Net Profit up by 30% at Rs.560.04 crore YoY basis  
• Operating Profit up by 39% to Rs.1,006.53 crore YoY basis
• Non Interest Income increases by 32% YoY basis
• Capital Adequacy Ratio ( CAR) improves to 16.52%
• Net NPA down to 0.31%

Highlights of Q2 FY 2016

Ø Key performance vectors show significant improvement.

Ø NIM increased to 3.88%

Ø Net Profit up by 30%

Ø Total Revenue up by 32%

Ø Net NPA down to 0.31%

Ø Capital Adequacy Ratio ( CAR) improves to 16.52%

Performance  highlights

· Operating Profit for the quarter was Rs.1,006.53 crore as against Rs.724.67 crore in the corresponding quarter of the previous year, showing a robust growth of 39%

· Net Profit for the quarter was Rs.560.04 crore as against Rs.430.20 crore in the corresponding quarter of the previous year, showing a consistent growth of 30% 

· Net Interest Income (NII) was Rs.1,094.28 crore as compared to Rs.833.11 crore in the corresponding quarter of the previous year, registering a growth of 31% 

· Core Fee Income for the quarter was Rs.673.30 crore as against Rs.544.99 crore in the corresponding quarter of the previous year, marking a sustained growth of 24 %

· Non Interest Income for the quarter was Rs.783.54 crore as against Rs.593.96 crore in the corresponding quarter of the previous year, a growth of 32%

· Net Interest Margin (NIM) for the current quarter was 3.88 % as against 3.63 % in the corresponding quarter of the previous year

Performance highlights

for the 6-month period

ended September 30, 2015

· Operating Profit for the half-year ended was Rs.1,929.25 crore as against Rs.1,473.87 crore in the corresponding period of the previous year, showing a growth of 31%

· Net Profit for the half-year ended September 30, 2015 was Rs.1,085.08 crore as against Rs. 851.26 crore in the corresponding period of previous year, up by 27%

· Net Interest Income (NII) was Rs.2,074.94 crore as compared to Rs.1,633.77 crore in the corresponding period of the previous year, up 27% 

· Core Fee Income was Rs.1,309.50 crore as against Rs.1,061.06 crore in the corresponding period of the previous year, showing a consistent growth of 23 %

· Non-Interest Income was Rs.1,545.15 crore as against Rs.1,199.88 crore in the corresponding period of the previous year, up by 29%

·       The CASA (Current Accounts-Savings Accounts) ratio improved to 34.74 % against 33.89 %

·       Gross NPA in current Q2 is at 0.77% as against 1.08% in the previous year Q2 

·       Increase in branch network from 685 branches and 1277 ATMs in the previous year to 854 branches and 1578 ATMs this year as on 30^th September, 2015

·       Total Advances as on September 30, 2015 were at Rs. 78,294 crore as compared to Rs. 59,931 crore in the corresponding period of the previous year, recording a growth of 31 %

·       Total Deposits as on September 30, 2015 were at Rs. 80,841 crore as compared to Rs. 65,996 crore in the corresponding period of the previous year, up by 22% 

·       Capital Adequacy Ratio as per BASEL III Capital regulations as on September 30, 2015 was 16.52 % 

·       During the quarter, Bank successfully completed a Qualified Institutions Placement (QIP) issue allotting 5,12,18,640 equity shares of Rs. 10/-each at a price of Rs. 845.00 per share aggregating to Rs. 4,327.98 crores and a Preferential Allotment of 87,81,360 equity shares of Rs. 10/-each at a price of Rs.857.20 per share to the promoters aggregating to Rs. 752.74 crores.”

·       The Bank  integrated  Diamond  and  Jewellery  financing  business  acquired  from  Royal  Bank  of  Scotland N.V.  involving  takeover  various  assets  and  liabilities  including  an  advance  portfolio  of  Rs.  4,130.40 crores.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, the Bank has shown consistent performance in its bottom lines given the challenging times, both globally as well  as  in  the  domestic  market.

However,  the  overall  industry  sentiment  is  looking  positive.  Our Operating Profit rose by 39% and our NIM has grown to a healthy 3.88%. Digitisation continues to be a core area of thrust  for us. We remain committed to our promise  of Responsive Innovation theme  with the introduction of ‘Onthego’ Social Banking which offers customers a host of banking services including transactions  through  social  platforms  like  Twitter  and  Facebook  without  the  necessity  of  downloading an additional app.”

About IndusInd Bank

IndusInd  Bank,  which  commenced  operations  in  1994,  caters  to  the  needs  of  both  consumer  and corporate   customers.  Its  technology  platform  supports  multi-channel  delivery  capabilities.  As  on September 30, 2015, IndusInd Bank  has 854 branches, and 1578 ATMs spread across 544 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank  believes  in  driving  its  business  through  technology.  It  enjoys  clearing  bank  status  for  both  major stock exchanges-BSE and NSE -and major commodity exchanges in the country, including MCX, NCDEX, and  NMCE.  IndusInd  Bank  on  April  1,  2013  was  included  in  the  NIFTY  50  benchmark  index.  Recently, IndusInd  Bank  ranked  13th  amongst  the  Top  50  Most  Valuable  Indian  Brands  2015 as  per  the  BrandZ Top 50 rankings powered by WPP and Millward Brown.

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