The major names amongst private sector lenders so far have been that of ICICI Bank, HDFC Bank and Axis Bank. Now it seems that other private sector banks are also coming in line with these major banks.
One such name is IndusInd Bank. Some time back the bank was under extreme pressure of bad loans and tight margins. But the June quarter results show a dramatic facelift for the bank.
The net interest margin (NIM) of the bank has improved to 3.3% last quarter which is a rise by 13 basis points. The bank is targetting a NIM of 3.5%.
The CASA ratio of the bank is 24%. The bank has raised its provision coverage ratio to 70% around three months before completion of the deadline for the same.
The June quarter has seen a 31% growth in the loan book of the bank.