Indian banks, especially those privately owned, are adding branches at the fastest pace in several years to help garner deposits, upending conventional wisdom that increasing familiarity with digital modes of transaction will obviate the need for brick-and-mortar lender facilities.
"The bank has begun executing its next 3-year plan starting Q1 focused on growth, granularity and governance. Loan growth has been driven by both consumer and corporate segments," said Sumant Kathpalia, MD, IndusInd Bank.
The bank currently has a home loan book of Rs 650 crore and plans to increase it to Rs 15,000 crore in the next three years, MD and CEO Sumant Kathpalia said.
IndusInd Bank's profit came in at Rs 2,123.62 against Rs 1,603.29 crore in the same quarter last year. The profit growth came in-line with Street expectations.