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IndusInd Bank records meagre 4% deposit growth

IndusInd Bank records meagre 4% deposit growth

Finance
Mumbai: Private lender IndusInd Bank on Tuesday said it’s advances grew 13 per cent at the end of March 2020 much slower than the 20 per cent growth it had recorded in credit growth at the end of the December quarter. In value terms it’s advances stood at Rs 2.09 lakh crore versus Rs 1.86 lakh crore during the corresponding period last year. It’s deposits grew a paltry 4 per cent at the end of March to Rs 2.02 lakh crore versus Rs 1.94 lakh crore at the end of March 2019. It’s deposits had grown 23 per cent at the end of December. Out of the total deposits 34 per cent was contributed by retail and small business customers. It’s CASA ratio stood at 40.5 per cent at the end of March 2020, which was at 43.1 per cent in March 2019 and 42.4 per cent at the end of December. The bank had recently