Net interest income (NII), or the core income a bank earns by giving loans, increased 20.04% to Rs1,894.81 crore versus Rs1,578.42 crore previous year.
"The bank has continued to show a steadfast performance again in this quarter".
In it's financial audit, IndusInd stated that they have transferred an amount of Rs 70 crore towards floating provisions for advances during the quarter ended June 30, 2017.
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Net NPAs were 2.85 per cent of net loans against 2.99 per cent last fiscal. "In spite of the growth of the balance sheet, we have seen an increase in the return on assets (RoA) and the return on equity (RoE) as well", he said. "We saw 34 per cent increase in our disbursements on overall vehicle finance. If you look at only commercial vehicle, disbursements grew by 39%", Mr. Sobti said.
However, the company's bad loans portfolio increased with the net NPA (non-performing assets) level at 0.46 per cent, up from 0.39 per cent reported during the corresponding period of 2016-17 and 0.44 in the second quarter of 2017-18. "The growth is pretty secular - two-wheelers, three-wheelers and tractor segments are also witnessing growth", he said.
On BFIL, IndusInd mentioned that the scheme is subject to the approval of the Reserve Bank of India (RBI), the Competition Commission of India (CCI), the Sebi, the respective shareholders of the bank and BFIL and lastly the National Company Law Tribunal (NCLT).
However, provision and contingencies of the bank rose to Rs 196.40 crore in the December quarter compared to Rs 100.60 crore in the same period a year earlier.