IndusInd Bank Net Advance Rise 16% In June Quarter

IndusInd Bank Ltd.'s gross advances rose 19% on a yearly basis to Rs 3.48 lakh crore in the April–June quarter, according to provisional figures released by the bank.

The bank's deposit rose 15% to Rs 3.98 lakh crore in the first quarter ended June 2024, according to an exchange filing on Friday.

CASA ratio—the proportion of deposits that come from low-cost current and savings accounts—dipped to 36.7% from 37.9% sequentially. A lower CASA ratio indicates that the bank relies heavily on costlier wholesale funding, which can hurt the bank's margin.

Retail deposits and deposits from small business customers amounted to Rs 1.74 lakh crore as of June 30, 2024, in comparison to Rs 1.69 crore as of March 31, 2024.

Shares of IndusInd Bank closed 0.60% lower at Rs 1,434.25 per share. This compares to a 0.09% decline in the NSE Nifty 50 Index.