Company Update : IndusInd Bank By Motilal Oswal Financial Services Ltd
Deposits decline QoQ; CD ratio further inches up sharply
IndusInd Bank (IIB) released its quarterly update, highlighting the key business numbers for 3QFY25. Following are the key takeaways:
* Net advances grew 12.3% YoY/2.8% QoQ to ~INR3.67t.
* Deposits growth disappoints as they declined 0.7% QoQ (up 11% YoY to ~INR4.1t), while the CASA mix further moderated 1% QoQ to 34.9%.
* The bank’s CD ratio increased sharply to 89.6% (up 3% QoQ) in 3QFY25.
* IIB disappointed in terms of overall deposits growth, leading to a jump in the bank’s CD ratio to 89.6%. Further, the CASA ratio saw a sharp decline of 1% QoQ.
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