IndusInd Bank net jumps 25% on robust CV loan demand

MUMBAI: A robust loan demand driven by those for commercial vehicles, and a dip on cost of funds due to a near doubling of its Casa deposits boosted private sector lender IndusInd Bank's net by 25 per cent to Rs 880.10 crore for the three months to September. The Hinduja Group promoted bank said its mainstay commercial vehicle loan book grew 25 per cent, helping the overall loan growth to 18 per cent, helping the bank report strong numbers. Bottom line was also helped by a stable asset quality and lower operational cost coupled with lower cost to income ratio on the back of a savings deposit growth of 95 per cent.