IndusInd Bank’s net profit has increased by 45 percent

By | September 28, 2011

A recent press report said that the net profit of IndusIndBank has increased by 45 percent from Rs.133 crore to 193 crore for the July-September quarter this year.

Reports said that the increase in profit was due to the healthy rise in both net interest income and other income. Mr. Romesh Sobti, Managing Director, IndusInd Bank said that the operating environment of the bank in the second quarter was challenging due to the prolonged inflation cycle, tight liquidity cycle and interest rate cycle.

He said that the decline in margins was lesser than expected and said that the pressure on margins would continue as there are no chances for the fall in the interest rate front.

Reports said that the loan book of the bank has a larger share of the higher yielding consumer finance loans, where the yields are more than 16 per cent. It said that the share of consumer finance in the total advances has increased to 47 per cent from 42 per cent last year. It said that the second-hand commercial vehicle segment has occupied 10 per cent of the total commercial vehicle book. The bank also offers home loan, personal loan, construction equipment loan, loan against shares etc.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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