Nifty Bank Stock Surges 3.4% on Strong Biz Performance in Q1; CASA Rises

  • Investing.com
  • Stock Market News
Nifty Bank Stock Surges 3.4% on Strong Biz Performance in Q1; CASA Rises

By Malvika Gurung

Investing.com -- Shares of the private commercial lender IndusInd Bank (NS: INBK ) climbed 3.4% to Rs 834.55 apiece at 12:30 pm on Monday, following the bank’s provisional data announcement for the June 2023 quarter. 

Sectoral index Nifty Bank is up 0.71%, and IndusInd Bank is among the top gainer in the index.

The private sector lender witnessed an 18% jump in its net advances at Rs 2,49,541 crore in the June 2022 quarter of FY23 on a YoY basis, compared to Rs 2,10,727 crore witnessed in the same period last year.

On a sequential basis, the figure climbed 4%, against Rs 2,39,052 crore posted in the previous quarter Q4 FY22.

The lender’s CASA ratio, a key indicator of a financial institution’s operating efficiency, rose from 42.1% in Q1 FY22 to 43.2% in Q1 FY23, and from 42.8% in the March 2022 ending quarter.

Further, the bank’s total deposits surged 13% YoY and 3% sequentially to Rs 3,03,094 crore in the Apr-Jun quarter and ‘Retail Deposits and Deposits from Small Business Customers’ rose 3% sequentially to Rs 1,24,105 crore in the quarter under focus.

Add Chart to Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or

100
Please try another search
  • Mahavir gears @Mahavir gears
    tomorrow bank down
    Like 0
  • Mahavir gears @Mahavir gears
    tomorrow bank down
    Like 0
  • AMOL KHAIRNAR @AMOL KHAIRNAR
    bank tomorrow up ya down
    Like 0
  • AMOL KHAIRNAR @AMOL KHAIRNAR
    bank tomorrow up ya down
    Like 1

Related Articles