Corona Impact: IndusInd Bank posts tepid Q2 loan growth

Mumbai: Private lender IndusInd Bank registered lukewarm performance on credit with loans and advances growing a meagre 2% to nearly Rs 2 lakh crore at the end of the September quarter, provisional numbers released by the bank on Monday showed. The bank had loans worth Rs 1.98 lakh crore at the end of June 2020 and Rs 1.97 lakh crore at the end of September 2019.

IndusInd Bank also recorded a 10% growth in its deposits taking its total liabilities to Rs 2.28 lakh crore at the end of the September quarter against Rs 2.07 lakh crore during the same period last year. It’s total deposits was at Rs 2.11 lakh crore at the end of June 2020.

Retail Deposits and Deposits from Small Business Customers amounted to Rs.75,610 crores as of September 30, 2020 as compared to Rs. 67,318 crores as of June 30, 2020.


It’s CASA ratio fell slightly from 41.4% in the September 2019 quarter to 40.4% in the September 2020 quarter.

Credit growth continues to be at 40 year low levels of 5% as per RBI data. Rating agency ICRA also revised its credit growth estimate for banks to 2-3% in the current fiscal, down from 6-7% earlier.