💨 Abstract

IndusInd Bank, a private lender in India, reported a 39% drop in third-quarter profit, due to increased provisions for potential loan losses and a deterioration in asset quality. The bank posted a net profit of 14.01 billion rupees, lower than the expected 14.11 billion rupees. The decrease in profit is attributed to a challenging economic environment and the impact of the pandemic on the banking sector.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖