The first private sector bank to always declare quarterly numbers, IndusInd did not disappoint. On a 34% (YoY) jump up in Net Interest Income (NII), for Q3FY17, the bank posted a good 29% increase in net profit at Rs.751 crore. NIM remains status quo (QoQ) at 4%.

In terms of asset quality which is what is most significant in the numbers today, there was some drop. Gross NPA rose marginally from 0.9% to 0.94% (QoQ) and Net NPA was also up from 0.37% to 0.39% (QoQ). This was not too alarming as was expected. Provisions though showed a rise of 22% at Rs.217 crore though sequentially, it was much better, with a rise of less than 1.5%.

Advances have showed a 25% (YoY) and 4% (QoQ) jump while deposits, which post demonetization was expected to get a big boost, YoY rose 38% and 6% sequentially.

During the quarter the Bank opened 40 new branches and its total network currently stands at 1075 branches and 1960 ATMs.