Reslut

IndusInd Bank has reported a net profit of Rs 21.4 crore in the fourth quarter of 2006-07, against a loss of Rs 62.4 crore in the previous year on lower provisioning. The Managing Director, Mr Bhaskar Ghose, said all the key ratios of the bank were looking better. Net interest margin for the quarter fell to 1.63 per cent, against 1.82 per cent in the corresponding quarter of the previous year. Mr Ghose said that the bank had shifted its focus from wholesale banking to a balanced combination of corporate loans, vehicle finance, and other retail advances. Vehicular finance contributes a significant chunk of the bank's portfolio at 55 per cent. In 2006-07, deposits grew by 18 per cent to Rs 17,645 crore from Rs 15,006 crore. Advances were up 19 per cent to Rs 11,084 crore against Rs 9311 crore in the previous year. Cost of deposits moved up to 6.73 per cent (5.87 per cent) while the yield on advances was slightly higher at 9.76 per cent (9.44 per cent). Net Non-Performing Assets ratio increased to 2.47 per cent (2.09 per cent).