New Delhi, Jan 10 (UNI) Private sector lender IndusInd Bank today reported a growth of 29 percent in its net profit to Rs 750.67-crore in the third quarter of 2016-17 as compared to Rs 581.02 crore in the same quarter previous fiscal. The net interest income that is the difference between interest earned and interest expend stood at Rs 1,578.42-crore in the quarter under review against Rs 1,173.42-crore a year ago period, registering a rise of 16.43 per cent. The Capital Adequacy Ratio dipped to 15.31 percent from 16.43 percent. Commenting on the performance, Romesh Sobti, MD and CEO, IndusInd Bank said, “This quarter, post the historic move of demonetisation, the economy has been in a reinvention mode. Banks have taken various measures to help customers during these times to ensure a smooth transition. Adaptability, responsiveness and reinvention have become the new mantras of today’s businesses. Digitisation which has always been in focus, has now become the core area of thrust. Against such dynamic changes in the economy, the Bank has maintained its sustained financials with steady numbers.” The Current Accounts-Savings Accounts (CASA) ratio improved to 37.04 percent from 34.98 percent. The demonetisation drive has attributed in rise of deposits, with a growth of 25 percent, the deposits reached to Rs 1,02,770-crore in the quarter ended on December 31, 2016 against Rs 82,167-crore in the same quarter last year. The net Non Performing Assets (NPAs) stood at 0.39 percent against 0.3 percent. “With positive revival in the economy, there will be an increase in the credit uptick soon. This will reflect in our fourth quarter results. The Bank will continue its focus on digitisation as well as responsive innovation to serve our customers,” he added. Meanwhile, the banker has expanded its networks to 1,075 branches and 1960 ATMs in the third quarter against 905 branches and 1621 ATMs a year ago period. UNI ASH SNU 1918