Private sector bank IndusInd Bank, on 3 January, announced its quarterly earnings for the October-December quarter of the current fiscal year.

The lender reported a 20% year-on-year growth in its advances to Rs 3.26 lakh crore during the quarter from Rs 2.72 lakh crore reported in the same quarter of the previous fiscal year. The lender also reported a 13% YoY growth in total deposits to Rs 3.68 lakh crore during the quarter to Rs 3.25 lakh crore reported in the corresponding quarter of the last fiscal year.

The bank’s CASA (current account savings account) ratio slumped to 38.5% during the quarter from 42% reported in Q3 of the previous fiscal year.

In a separate filing on 2 January, the company said that it had been imposed a penalty of Rs 7,500 from the BSE limited for the delay in submission of the Quarterly Incident Report for the quarter that ended on September 30, 2023.

Earlier in December, the company launched ‘eSvarna’, which is India’s first corporate credit card on the RuPay network that enabled the private sector lender to become the first company to integrate UPI functionality with a corporate credit card.

The card offers smooth transactions at merchant outlets, allowing users the flexibility to make UPI payments by linking the card with UPI-enabled apps.