IndusInd Bank's Net Advances Rise 21% To Rs 3,01,041 Crore, Shares Jump To 52-Week High

The net advances of IndusInd Bank rose 21 per cent at Rs 3,01,041 crore against Rs 2,47,960 crore in June 2022, the company announced through an exchange filing. In comparison to the previous quarter the net advances have seen a growth of 4 per cent.

Deposits in June were up 15 per cent at Rs 3,47,356 crore against Rs 3,03,078 crore, in June last year. On a quarterly basis the deposits saw a growth of 3 per cent in comparison to Rs 3,36,438 crore as of March 2023.

The CASA (Current account and savings account) ratio in June, 2023 stood at 39.9 per cent versus 43.2 per cent in June 2022. This is the lowest CASA in the last 24 quarters.

IndusInd Bank shares

IndusInd Bank shares on Wednesday jumped to a 52-week high of Rs 1,413.10, but at 10:30 the shares were trading at Rs 1,407.50, up by 2.94 per cent. The jump of 2 per cent in the shares was due to the robust business update in the first quarter of this financial year.

Additionally the bank's board of director on Tuesday granted approval for IndusInd International Holdings Limited, its promoter to raise its stake in IndusInd bank. This could also be another reason for the shares to hit the 52-week high on Wednesday.