IndusInd Bank, which announced its first quarter numbers on Tuesday, largely in line with estimates, is aiming to sustain 25-30 percent loan growth, said Romesh Sobti, managing director and CEO of the company.
“Margins for IndusInd Bank are expected to remain in the range of 3.9 to 4 percent,” said Sobti.
The bank's net profit rose 24 percent, at Rs 1,036 crore while interest earned jumped 22.6 percent, at Rs 5,068 crore. Net interest income (NII) stood at Rs 2,122.4 crore, up 19.6 percent as against CNBC-TV18’s poll of Rs 2,133 crore. While its balance sheet growth remained strong, profit and loss (P&L) growth remained weakest in the last few quarters.
Sobti said that the loan growth was robust despite the firm selling assets worth Rs 8000 crore. “Corporate loan growth was at 30 percent and vehicle financing growth was at 28 percent,” Sobti said.
He further added that the firm didn’t plan to raise capital over the next 18 months.