IndusInd Bank shares jump 2% on RBI's nod for setting up a mutual fund subsidiary
The new asset management company (AMC) will enable the bank to oversee mutual fund operations, supported by equity infusion from the bank.
The new asset management company (AMC) will enable the bank to oversee mutual fund operations, supported by equity infusion from the bank.
The growth in net profit was led by higher net interest income.
The private lender's net profit grew by 15% to ₹1,805 crore in the July to September quarter from ₹1,147 crore in the same period last year.
IndusInd Bank reported a 64.4% YoY rise in its standalone profit to ₹1,603.29 crore during Q1 FY23 on an uptick in net interest income