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Private lender IndusInd Bank on Wednesday shared its business update for the third quarter (Q3) of the current fiscal. The bank witnessed loan growth at 3% on a sequential basis whereas on a yearly basis it grew 10% as the net advances as of December 31, 2021 stood at 2,28,128 crore.

Meanwhile, IndusInd Bank's deposits for the third quarter rose to 2,84,835 crore, up 3% quarter-on-quarter (QoQ) and up 19% year-on-year. Its retail deposits and deposits from small business customers amounted to 1,13,615 crore as of 31 December 2021 as compared to Rs. 1,11,754 crore as of 30 September 2021.

The lender's CASA (current and savings account) ratio stood at 42.2% as of December end as compared to 42.1% during September period and 40.5% as of December 2020.

Shares of IndusInd Bank were trading nearly a per cent lower at 896 apiece on the BSE in Wednesday's opening deals. The bank stock has underperformed by declining over 2% in a year's period.  

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