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IndusInd Bank Q4 result, Profit rises 21% to Rs751.61 crore

April 19, 2017 IndusInd Bank, Private Banks, Q4 Results, Q4FY17 No comments

Private sector lender IndusInd Bank Ltd on Wednesday said its net profit for the March quarter rose 21.16% from a year ago due to higher net interest income and other income.

Net profit for the quarter stood at Rs751.61 crore as compared with Rs620.35 crore a year ago. A Bloomberg poll of 24 analysts had forecast a net profit of Rs791 crore.

Top 10 Private Banks in India 2017

March 09, 2017 Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Karur Vysya Bank, Kotak Mahindra Bank, News&Articles, Private Banks, RBL Bank, Top Banks, Yes Bank 49 comments

Banking corporations are considered as the most prominent institution if we talk about private sector firms. We have scrutinized Top 10 Private Banks In India 2017 for the customers who are looking for best private banks with high interest rate. Now your wait is over, check out below given amazing private banking corporations along with saving accounts and interest rate details. The Private Banks Have earned popularity amongst people and achieved a special niche in the world of banking. These banks are known for highly competitive outlook and technological superiority. Check Out private Banks in India from below This Page.

IndusInd Bank Q3 result,net profit rises 29.2%

January 10, 2017 IndusInd Bank, Private Banks, Q3 results, Q3FY17, Results No comments

IndusInd Bank on Tuesday said its net profit for the third quarter rose 29.19% due to higher net interest income and other income.

Net profit for the quarter stood at Rs750.64 crore as compared to Rs581.02 crore a year ago. Nine analysts polled by Bloomberg had made a forecast a net profit of Rs725.20 crore.

Net interest income (NII) or the core income a bank earns by giving loans increased 34.51% to Rs1,578.42 crore from Rs1,173.42 crore last year. Other income increased to Rs1016.80 crore from Rs839 crore in the same period last year, a rise of 21.19%.

Gross NPAs rose 8.08% to Rs971.62 crore at the end of the December quarter from Rs899.01 crore in the June quarter. On year-on-year basis it jumped 42.65% from Rs681.13 crore.Provisions and contingencies jumped 1.39% to Rs216.85 crore in the quarter from Rs213.88 crore a quarter ago. On a year-on-year basis it jumped 22.46% from Rs177.08 crore.

As a percentage of total loans, gross NPAs stood at 0.94% at the end of the December quarter as compared to 0.9% in the previous quarter and 0.82% in the year ago quarter.Net NPAs were at 0.39% in the December quarter compared to 0.37% in the previous quarter and 0.33% in the same quarter last year.

Indusind Bank Q2 result, Profit rises 25.7% to Rs704.26 crore

October 12, 2016 IndusInd Bank, Private Banks, Q2 Results, Q2FY17, Results No comments

IndusInd Bank has posted a steady July-September quarter. Its net profit rose 25.7 percent to Rs 704.26 crore in Q2 of FY17 from Rs 560 crore in corresponding quarter last fiscal.

During the quarter, its net interest income (NII) was at Rs 1460.3 crore, up 33.5 percent on annual basis. Its other income also increased 23.9 percent at Rs 970.4 crore against Rs 783.5 crore (YoY).

Net interest margin (NIM) in Q2 was 4 percent as against 3.88 percent YoY. In Q2, its net non-performing assets (NPA) was at 0.37 percent versus 0.38 percent while gross NPA was at 0.90 percent versus 0.91 percent (QoQ). In absolute terms, gross NPA was up 4.4 percent at Rs 899 crore versus Rs 860.6 crore (QoQ) while net NPA rose 3.8 percent at Rs 369.2 crore versus Rs 355.5 Crore (QoQ).

Provisions, during the quarter, was at Rs 213.9 crore compared to Rs 158.1 crore on annual basis and Rs 230.5 crore on sequential basis. Return on asset in Q2 was at 1.93 percent against 1.94 percent (QoQ).

Capital adequacy ratio-basel III in Q2 was at 15.32 percent compared to 15.42 percent (QoQ). Deposits were up 38.9 percent YoY at Rs 1.12 lakh crore as on September 30, 2016. In Q2 advances was up 26.4 percent (YoY) at Rs 98,949.1 crore as on September 30, 2016. Core fee income for the quarter was Rs 825.57 crore as against Rs 673.30 crore in the corresponding quarter of the previous year, marking a growth of 23 percent. Romesh Sobti, MD & CEO, IndusInd Bank said, “This quarter, the bank has registered positive growth across all vectors despite tepid global markets and not so buoyant domestic market. However, the overall industry sentiment looks optimistic with a gradual uptick in credit pickup likely in the coming quarters. Apart from steady financials, the bank continued its focus on digitizing products and strengthening online banking as well as improving services to customers.”

IndusInd Bank Q1 profit rises 26% to Rs.661.38 crore on higher income

July 11, 2016 IndusInd Bank, Private Banks, Q1 Results, Q1FY17, Results No comments

IndusInd Bank Ltd on Monday reported a 26% increase in its June quarter net profit on higher interest on loans, fees, and commissions.

Net profit in the fiscal first quarter rose to Rs.6 Rs.525.04 crore a year ago. Ten analysts polled by Bloomberg had forecast a net profit of Rs.651.30 crore.

Net interest income (NII), or the core income a bank earns by giving loans, increased 38.32% to Rs.1,356.42 crore from Rs.980.66 crore last year. Non-interest income, including fees and commissions, rose to Rs.972.97 crore from Rs.761.61 crore, a rise of 27.75%.

Total advances as on 30 June were at Rs 93,678 crore, up 30% from the same period last year. Of this, corporate sector advances were at Rs 55,087 crore, up 30% from last year, while retail advances rose 29% from a year ago to Rs 38,591 crore.

IndusInd Bank Q4 net rises 25% to Rs 620 crore

April 22, 2016 IndusInd Bank, Private Banks, Profit, Q4 Results, Q4FY16, Results No comments

Private sector IndusInd Bank today posted a rise of 25.25 per cent in net profit at Rs 620.35 crore for the last quarter of 2015-16 fiscal.

Bank's net profit in the corresponding January-March quarter of the previous fiscal stood at Rs 495.27 crore.

Total income of the bank increased to Rs 4,044.49 crore in the concluding quarter of the last fiscal from Rs 3,278.06 crore in the same period a year ago, IndusInd Bank said in a regulatory filing.

For the entire 2015-16 fiscal, the bank's net profit rose 27.5 per cent to Rs 2,286.45 crore as against Rs 1,793.72 crore a year ago.

Total income for the fiscal 2015-16 was at Rs 14,877.61 crore, up from Rs 12,239.97 crore in 2014-15.

On the asset quality front, the bank's gross Non-Performing Assets (NPAs) were 0.87 per cent of gross advances as of March 31, 2016, a tad higher than 0.81 per cent in the same period a year ago.

Net NPAs or bad loans were 0.36 per cent of net advances ..

Top 10 Private Banks in India 2016

February 01, 2016 Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IndusInd Bank, J & K Bank, Karur Vysya Bank, Kotak Mahindra Bank, Private Banks, Top Banks, Yes Bank No comments

In Indian economy Private bank is the most regulated sector and most of the citizens prefer private banks because these banks provide quality services to their customers. They generate more profit than most of the nationalized banks and thus these banks have great importance in countries national income. These banks are famous for quality based products and customer centric service. If you are hungry for the best private sector banks, then don’t miss to read this article. Here is a valuable list of top 10 best private banks India.

1. HDFC Bank

HDFC Bank or Housing Development Finance Corporation Limited is the number one bank in India according to the market capital and is in 5^th position according to assets value. It is the first private bank in India that received RBI approval to establish a bank. It has more than 3200 branches all over India and 12000+ ATM’s. At present the bank is dealing these services: FOREX services, Loans, Insurance, Credit cards, Private Banking, Premium Banking etc.

2. ICICI Bank

According to the quantity of assets, ICICI Bank or the Industrial Credit and Investment Corporation of India is the 2^nd largest private bank that was formed in 1994. In 2014, the bank was awarded with the best bank by Global Business Development. The bank has current assets value is 99 billion USD and all over India it has 3540 branches and 11200 ATM’s. At present the bank is dealing these services: Privilege Banking, NRI Accounts, Credit cards, Insurance, Loans, etc.

3. Axis Bank

Formally known as UTI Bank, Axis bank is also a leading private bank in India that is operating its service from 1994. It occupies 3^rd position in Indian banking market. This bank deals with the services like: customer and corporate banking, insurance and finance, credit cards, mortgage loans, investment banking, wealth management, credit cards etc.

4. Kotak Mahindra Bank

Formally the bank was known as Kotak Mahindra Finance Limited and was established in 1995 and got license to run banking business in 2003. The bank is available not only in Metro Cities but available also in Tier-2 cities. At present the bank is dealing these services: NRI Banking, Privileged Banking, Insurance and Finance, Wholesale Banking etc.

5. Yes Bank

In the list of 10 top best banks, Yes bank occupies 6^th position. In January 2004, the bank was founded by Rana Kapoor and it’s headquarter is in Mumbai. This is one of the fast growing private banks in India with 500 branches in more than 350cities. In 2013 the bank was awarded with Golden Peacock Award for its Corporate Social Responsibility. At present the bank is dealing these services: Commercial Banking, Corporate and Institutional Banking, Investment Banking, Branch Banking etc.

6. Federal Bank

This bank was founded in the year 1947 and was formally known as Travancore Federal Bank. The founder of this bank is Mr. K P Hormis. The bank has more than 1000 branches all over the country. From its first day of operation the bank is striving for excellence in customer service. At present the bank is dealing these services: Insurance and NRI Banking, Corporate Banking, Loans etc.

7. Karur Vysya Bank

Karur Vysya Bank is also a well-known figure in this top 10 best private bank list. The bank was founded by M.A. Venkatarama Chettiar and Athi Krishna Chettiar in 1916. It’s headquarter is in Karur, TamilNadu. This is also a scheduled commercial bank in India that is famous for excellent customer service. Karur Vysya Bank has more than 550 branches in 18 states.

8. IndusInd Bank

The bank was founded in 1994 by Srichand P. Hinduja. He was the Chairman of the Hinduja Group. It’s headquarter is in Mumbai, Maharashtra. The name of the bank came from the name of the Indus Valley Civilization. This bank is better known for retail banking.

9. J&K Bank

This bank was founded in 1938 in Srinagar and started its operation in 1939. For four decades it has a record of continuous profit.

10. Bandhan Bank

It is an Indian banking and financial services company. It’s headquarter is in Kolkata. Along with IDFC Bandhan is also the newest private bank in India. Bandhan receives its license from RBI in 2014 and started its operation in early 2015.