News: IndusInd Bank reported its provisional figures as on December 2022. Net advances witnessed strong growth of 19% YoY (5% QoQ) at Rs 271966 crore. Deposits growth was also healthy at Rs 325491 crore (14% YoY, 3% QoQ). On a sequential basis, CASA deposits saw a moderation by ~1.4%. CASA ratio was at 42% as of December 2022 vs. 42.4% in September 2022 vs. 42.2% in December 2021.
View: The growth came in line with the management guidance of 18-20% for FY23. Deposit growth should see a pick-up in the coming quarters followed by a revision in interest rates.
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