IndusInd Bank Q3 net profit rises 25% to Rs936.25 crore

Romesh Sobti MD and CEO Indus Ind Bank

"The highlight of the quarter really was balance sheet crossed ₹2 lakh crore for the first time", said Romesh Sobti, MD & CEO IndusInd Bank, during the post-earnings media interaction. NII for the quarter came in at Rs 1,895 crore, up 20.1 per cent over Rs 1,578 crore in the same quarter a year ago.

Provisions for the quarter rose by 9 per cent yoy and declined 19 per cent qoq to Rs. 236 crore in Q3FY18. During the day, it dipped 2.75 per cent to Rs 1,687. Gross non-performing assets in absolute terms edged up to ₹1,499 crore as at December-end 2017 against ₹1,345 crore as at September-end 2017.

Its net interest margin (NIM) stood at 3.99 per cent for the current quarter as against 4 per cent in the corresponding quarter of the previous year. The bank posted GNPA of Rs 971.62 crore in Q3FY17 and Rs 1,345.28 crore in Q2FY18.

Non Interest income for the quarter was Rs. 1,186.76 crores as against Rs. 1,016.80 crores in the corresponding quarter of the previous year, a growth of 17 %.

Wells Fargo & Company (NYSE:WFC) Institutional Investors Sentiment Drops in 2017 Q3
It improved, as 42 investors sold ADBE shares while 327 reduced holdings. 57 funds opened positions while 179 raised stakes. The stock of Wells Fargo & Company (NYSE:WFC) has "Buy" rating given on Tuesday, December 12 by Keefe Bruyette & Woods.

Ashutosh Kumar Mishra, Senior Research Analyst, Reliance Securities, said the bank's loan growth is expected to remain much ahead of the industry, supported by pick-up in commercial vehicle/construction equipment lending, micro-finance book and leveraging of both retail and SME expertise on the newly-merged customer base.

"In spite of the growth in balance sheet of 25%, we have seen increase in return on assets, which went up from 1.9% last quarter to 1.96% this quarter".

Apart from this, IndusInd Bank also spoke on it's agreement with two companies namely Bharat Financial Inclusion Limited (BFIL) and Infrastructure Leasing and Financial Services Ltd. Fee income, too, grew 22 per cent to Rs 1,076.51 crore.

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