The bank's total income rose by 16.06 per cent to Rs 5,473.54 crore in the third quarter compared with the same period past year, but the net interest margins (NIMs) remained flat at 3.99 per cent.
IndusInd Bank managing director and CEO Romesh Sobti pointed out that the balance sheet size of the bank has crossed Rs 2 lakh crore for the first time. The floating provision has been considered while computing the net NPAs and provision coverage ratio (PCR).
Ashutosh Kumar Mishra, Senior Research Analyst, Reliance Securities, said the bank's loan growth is expected to remain much ahead of the industry, supported by pick-up in commercial vehicle/construction equipment lending, micro-finance book and leveraging of both retail and SME expertise on the newly-merged customer base. We believe in "responsive innovation" as our central theme. This was largely aided by 16 per cent yoy rise in interest income which stood at Rs. 4,286 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".
Operating Profit for the quarter was Rs. 1,664.69 crores as against Rs. 1,363.34 crores in thecorresponding quarter of the previous year, showing a growth of 22 %.
Capital Adequacy Ratio (CRAR) at 15.83 %.
With this, for the nine months period of FY18, IndusInd bank's NII registered robust growth of 25% to Rs 5,489.86 crore, compared to Rs 4,395.15 crore a year ago same 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.
Shares of IndusInd Bank fell by over 2 per cent today even as the company posted a 24.72 per cent increase in net profit for the quarter ended December 2017.
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