IndusInd Bank Q4 profit jumps nearly 50%, dividend declared at Rs 14 per share

Loan growth acceleration has been driven by retail businesses, it said in a presentation as retail loans grew by 7 percent sequentially improving the share of retail loans at 54 percent. Corporate growth during the quarter was driven by mid and small corporate at 7 percent QoQ and large corporate at 5 percent QoQ.

IndusInd Bank’s core fee income grew by 27 percent YoY and 8 percent QoQ during Q4FY23. The contribution of retail consumer banking fee for Q4FY23 at 74 percent of total fee income.

The lender added that the bank is focused on expanding the branch network, growth driven by retail customer acquisitions and scaling up new businesses – affluent and NRI. It is also looking at building merchant acquiring business, and executing digital 2.0 with planned individual and SME launches.

Following the announcement of the results, the stock ended 1.25 percent lower at Rs 1,102 on BSE.