INSUBCONTINENT EXCLUSIVE:
Mumbai : IndusInd Bank reported a 27 per cent rise in net profit on-year for the fourth quarter of FY18, mainly due to higher interest
income, even as the bank reported an uptick in non-performing assets (NPAs) and its computation of bad loans showed a divergence from the
Net profit rose to Rs 953 crore from Rs 752 crore a year ago as net interest income increased 20 per cent on-year in FY18
The lender reported an NPA divergence of Rs 1,350 crore for the fiscal year ended March 2017
lakh crore, riding on demand for loans from both companies as well as consumers
Net NPA increased to 0.51 per cent of net advances, up from 0.39 per cent a year earlier and also up from 0.46 per cent reported a in the
quarter ended December 2017
Bank credit costs remained unchanged at 62 basis points
reported a divergence for the second consecutive year as gross NPAs were higher by Rs 1,350 crore after the RBI examination of its results
in the fiscal ended March 2017
The divergence included Rs 519 crore of bridge financing for a cement company and Rs 104 crore of loans to a toll road project
The bank had to make an extra Rs 349 crore of provisions because of the divergence
Our restructured book is just 5 basis points and our SMA 2 (special mention accounts) book is just 13 basis points of our loan book
We have also increased our exposure to higher rated companies and AAA and AA rated corporate book now stands at 36.4 per cent as against 30
