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IndusInd Bank conducted a conference call on 26 July 2024 to discuss its financial results for the quarter ended June 2024. Sumant Kathpalia, MD&CEO of the bank addressed the call:
Highlights:
The bank has accelerated deposit growth to 15% yoy and 4% qoq with the traction on retail deposit mobilization. The deposit growth is ahead of loan growth. The cost of deposits rose 5 bps qoq and remained under control despite ongoing liquidity conditions.
The loan growth was healthy at 15% yoy driven by 18% yoy growth in retail loans and 13% yoy growth in corporate loans.
The collections and cautious disbursements were key focus areas during the quarter given the external disturbances.
The bank was cautious on disbursements in vehicle and microfinance during the election phase and run-rates have already picked up this month.
The disbursements are already picking up and the bank remains committed to the PC-6 growth guidanc...
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