Net advances of private lenders improved to Rs 2,71,966 crore at the end of December 2022, registering a growth of 19% compared to Rs 2,28,583 crore as of the previous year.

• NTPC Green Energy Adds 50 MW Solar Power in Rajasthan
• Coffee Day Enterprises Settles Rs 25 Cr Loan With Kemfin
• GST Collections Rise 14.7% to Rs 2.04 Lakh Crore in September
• GPT Infraprojects Bags Rs 385 Cr South Africa Rail Order
• Cabinet Backs Rs 1.86 Lakh Cr Plan for Green Power Grid

As of September 30, 2022, Net advances grew by 5% compared to Rs 2,60,129 crore. The bank’s deposit rose by 14% to Rs 3,25,491 crore in December 2022 from Rs 2,84,827 crore in December 2021, a rise of 3% over 3,15,921 crore at the end of September 2022. In comparison, the CASA ratio stood at 42% in December 2022 and 42.2% as of December 31, 2021, and 42.4% as of September 30, 2022.

The private sector bank gives service to both customers and corporations. The bank’s distribution network included 2,320 branches/banking outlets and 2,807 onsite and offsite ATMs.

On a consolidated basis, the bank’s net profit reported a 60.5% rise to Rs 1,786.72 crore on a 12.9% increase in total income to Rs 10,718.85 crore in July-September of FY23 over July-September of FY22.

On BSE, IndusInd Bank’s shares went down 1.42% to Rs 1,223.15.