IndusInd Bank Q2 Net Profit up by 30% at Rs.560.04 crore YoY basis

During the quarter, Bank successfully completed a Qualified Institutions Placement (QIP) issue allotting 5,12,18,640 equity shares of Rs. 10/-  each at a price of Rs. 845.00 per share aggregating to Rs. 4,327.98 crores and a  Preferential Allotment of 87,81,360 equity shares of Rs. 10/- each at a price of Rs.857.20 per share to the promoters aggregating to Rs. 752.74 crores.”

The Bank integrated Diamond and Jewellery financing business acquired from Royal Bank of Scotland N.V. involving takeover various assets and liabilities including an advance portfolio of Rs. 4,130.40 crores.

Commenting on the performance, Mr. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, the Bank has shown consistent performance in its bottom lines given the challenging times, both globally as well as in the domestic market.  However, the overall industry sentiment is looking positive. Our Operating Profit rose by 39% and our NIM has grown to a healthy 3.88%. Digitisation continues to be a core area of thrust for us. We remain committed to our promise of Responsive Innovation theme with the introduction of ‘Onthego’ Social Banking which offers customers a host of banking services including transactions through social platforms like Twitter and Facebook without the necessity of downloading an additional app.”