IndusInd Bank’s profits up



Mumbai-based private sector IndusInd Bank’s profits rose 5.20 percent to Rs 985 crore in the third quarter of the year 2019. The bank had a profit of Rs 936.25 crore in the same period a year ago.
Meanwhile, net interest income has increased to Rs 2287 crore. At the same time, the total income has increased from 5473.54 crores to Rs. 7232.32 crores. The bank said in a press conference held in Mumbai that in the third quarter the bank’s gross NPA (bad stranded debt) has been 1968.15 crore rupees. Gross NPAs were 1.13 percent in per cent, while gross NPAs were 1.16 percent in the same period a year ago.
Net NPA of the bank has been Rs 1029.27 crore in the third quarter, which is 0.59 per cent. It was 0.46 percent in the same period a year ago. In the third quarter, the bank provisions have increased to Rs 606.70 crore. Its deposit amount in the December quarter was Rs 1,75,701 crore, which was Rs 1,46,086 crore in the same period in the previous year. Ramesh Sobti, managing director of the bank said that this quarter has been a good quarter for topline and core operating profit. During this time we also launched Next Credit Card which is the first product of its kind in India.