Indusind Bank Q3FY10 Results

Indusind Bank Q3FY10 (YoY) Net Interest Income stood up 103% from Rs 116.58 crore to Rs 237.07 crore and net profit stood at Rs 88.04 crore vs Rs 45.06 crore

Indusind Bank ( INDUSINDBK)Q3FY10 (YoY) Net Interest Income (NII) stood up 103% from Rs 116.58 crore to Rs 237.07 crore and net profit stood at Rs 88.04 crore vs Rs 45.06 crore. Other income stood at Rs 116.02 crore vs Rs 133.07 crore.

Net NPAs stood at 0.67% vs 1.3%. NIM stood at 2.94% vs 2.86%. CASA Ratio of the bank improved from 18.39% to 22.54% (YoY).

For FY10, the bank is targetting credit growth of 25% and targets mix of 45:55% with retail & corporate loan book. The bank is also looking for NPAs below 1% and NIMs at over 2%.

The bank’s Net Interest Margin (NIM) for Q3FY10 stood at 2.94%. For Q2FY10, it was 2.86%, for Q1FY10 at 2.6%, for Q4FY09 at 2.34% and for Q3FY09 at 1.95%. Net NPAs of the bank for Q3FY10 stood at 0.67%. For Q2FY10, it was at 0.98%, for Q1FY10 at 1.01%, for Q4FY09 at 1.14% and for Q3FY09 at 1.3%.

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