TeresaGuercio23 at 04:25, 10 March 2026

2026-03-10T04:25:11Z

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{{short description|Indian private sector bank}}
{{Use Indian English|date=November 2020}}
{{Use dmy dates|date=May 2014}}
{{Infobox company
| name = IndusInd Bank Limited
| logo = IndusInd Bank SVG Logo.svg
| logo_size =
| logo_caption =
| type = [[Public company|Public]]
| traded_as = {{ubl
|{{NSE|INDUSINDBK}}
|{{BSE|532187}}
|{{LuxSE|IDUSB}}
}}
| industry = [[Financial service]]s
| foundation = {{Start date and age|1994|04||p=yes}}
| founder = [[S. P. Hinduja]]
| key_people = {{Unbulleted list|
* Rajiv Anand <small>([[Managing Director]] & [[CEO]])</small><ref>{{Cite web|url=https://www.indusind.bank.in/in/en/about-us/board-of-director.html|title = Board of Directors Profiles – IndusInd Bank|website=www.indusind.bank.in}}</ref>
}}
| products = {{ubl|[[Retail banking|Consumer banking]]|[[Commercial banking]]|[[Credit cards]]|[[Investment banking]]|[[Mortgage loan]]s|[[Private banking]]|[[Private equity]]|[[Wealth management]] }}
| revenue = {{increase}} {{INRConvert|56351|c}} (2025)<ref name="BalSheet">[https://www.bseindia.com/xml-data/corpfiling/AttachHis/e0d0c950-1cf0-4d5a-972b-79a608a81bff.pdf "FY 25 Results"]</ref>
| operating_income = {{decrease}} {{INRConvert|10661|c}} (2025)<ref name="BalSheet"/>
| net_income = {{decrease}} {{INRConvert|2575|c}} (2025)<ref name="BalSheet"/>
| assets = {{increase}} {{INRConvert|554018|c}} (2025)<ref name="BalSheet"/>
| equity = {{increase}} {{INRConvert|64835|c}} (2025)<ref name="BalSheet"/>
| num_employees = 44,974 (2025)<ref>{{cite web |title=Annual Report 2024-2025 | url=https://www.indusind.bank.in/content/dam/indusind-corporate/investor-resource/latest-annual-report/annual_report_2024-25.pdf | website=www.indusind.bank.in}}</ref><ref name="BalSheet"/>
| ratio = 15.31% <ref name="BalSheet"/>
| location = [[Mumbai]], Maharashtra
| hq_location_country = India
| owner = [[Hinduja Group]] (16.29%)<ref>{{cite news |last1=Angre |first1=Alekh |title=IndusInd Bank promoters see stock dip as investment opportunity |url=https://economictimes.indiatimes.com/markets/stocks/news/indusind-bank-promoters-see-stock-dip-as-investment-opportunity/articleshow/119171098.cms|access-date=25 March 2025 |work=The Economic Times |date=19 March 2025}}</ref>
| subsid = [[Bharat Financial Inclusion|BFIL]]<ref>{{cite news|url=https://www.moneycontrol.com/news/business/stocks/indusind-bank-adds-2-on-nclt-nod-for-merger-with-bfil-3882081.html/amp|title=IndusInd Bank adds 2% on NCLT nod for merger with BFIL|work=moneycontrol|access-date=25 April 2019}}</ref>
| homepage = {{URL|https://www.indusind.bank.in/}}
}}
'''IndusInd Bank Limited''' is an Indian banking and [[financial services]] company based in [[Mumbai]].<ref name=":0">{{cite web |title=Annual Report 2018-19 |url=https://www.indusind.bank.in/content/dam/indusind-corporate/investor-resource/latest-annual-report/AnnualReport201819.pdf |access-date=16 February 2020 |work=www.indusind.bank.in}}</ref> It was established in April 1994 and [[Corporate promoter|promoted]] by the [[Hinduja Group]].<ref>{{Cite web |last=Kochuveedan |first=Benn |date=2024-04-25 |title=IndusInd Bank net profit up 15% to Rs 2,349 crore in Q4 |url=https://www.newindianexpress.com/business/2024/Apr/25/indusind-bank-net-profit-up-15-to-rs-2349-crore-in-q4 |access-date=2025-03-21 |website=The New Indian Express |language=en}}</ref><ref>{{Cite web |last=Deva |first=Pranati |title=ICICI Direct picks IndusInd Bank as a 'High Conviction Idea' for December; here's why |url=https://www.livemint.com/market/stock-market-news/icici-direct-picks-indusind-bank-as-a-high-conviction-idea-for-december-heres-why-11702450569967.html |website=Mint}}</ref>

== History ==
IndusInd Bank was among nine 'new-generation'{{ref label|New-generation|a}} banks that obtained a banking license in 1994; it was started by [[S. P. Hinduja]] along with hundreds of [[Non-Resident Indians|NRI]] and other shareholders.<ref>{{cite news |title=IndusInd Bank debuts on Nifty; shares soar 3% |url=https://economictimes.indiatimes.com/markets/stocks/news/indusind-bank-debuts-on-nifty-shares-soar-3/articleshow/19327034.cms |access-date=1 March 2025 |work=The Economic Times |date=1 April 2013}}</ref> Named after the [[Indus Valley Civilisation]], the bank began its operations on 17 April 1994, after being inaugurated by the then [[Ministry of Finance (India)|Union Finance Minister]] [[Manmohan Singh]].<ref>{{cite web |title=IndusInd Bank Annual Report 2003-2004 |url=https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2004/INDUSIND_BANK_LTD-532187-MARCH-2004.PDF |publisher=BSE |access-date=1 March 2025}}</ref><ref>{{cite news |title=IndusInd Bank Ltd. - History |url=https://www.business-standard.com/company/indusind-bank-5531/information/company-history |work=Business Standard India}}</ref> It launched its [[initial public offering]] in 1997.<ref>{{cite news |title=Indusind Bank Net Up 24 Per Cent At Rs 91 Cr |url=https://www.business-standard.com/article/specials/indusind-bank-net-up-24-per-cent-at-rs-91-cr-198051501054_1.html |access-date=1 March 2025 |work=Business Standard}}</ref>

In 2004, IndusInd Bank completed its merger with Ashok Leyland Finance, a [[vehicle financing]] company which was also part of the [[Hinduja Group]].<ref>{{cite news |title=RBI clears IndusInd merger with Ashok Leyland Fin |url=https://economictimes.indiatimes.com/rbi-clears-indusind-merger-with-ashok-leyland-fin/articleshow/742796.cms |access-date=1 March 2025 |work=The Economic Times |date=16 June 2004}}</ref>

IndusInd Bank listed on the [[Luxembourg Stock Exchange]] in 2007 by issuing [[global depository receipts]] (GDRs) worth {{INRconvert|147|c|mode=historical|year=2007}}. In 2008, it issued fresh GDRs worth {{INRconvert|222|c|mode=historical|year=2008}}.<ref>{{cite news |title=IndusInd taps overseas market to raise Rs 222 cr |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/indusind-taps-overseas-market-to-raise-rs-222-cr/articleshow/3161733.cms |access-date=1 March 2025 |work=The Economic Times |date=25 June 2008}}</ref>

In 2011, IndusInd Bank acquired [[Deutsche Bank]] India's loss-making credit cards division.<ref>{{cite news |title=Deutsche sells credit card biz to IndusInd |url=https://indianexpress.com/article/news-archive/web/deutsche-sells-credit-card-biz-to-indusind/ |access-date=1 March 2025 |work=The Indian Express |date=11 April 2011 |language=en}}</ref>

In October 2017, IndusInd Bank announced its acquisition of [[Bharat Financial Inclusion Limited]] (BFIL) for {{INRconvert|15000|c|mode=historical|year=2017}}.<ref>{{cite news |last1=Hetavkar |first1=Nikhat |title=IndusInd acquires Bharat Financial in Rs 15,000-cr deal |url=https://www.business-standard.com/article/companies/indusind-bank-approves-deal-to-buy-bharat-financial-inclusion-117101400389_1.html |publisher=[[Business Standard]] |date=October 15, 2017}}</ref> The merger was officially completed in July 2019.<ref>{{cite news |title=IndusInd Bank-Bharat Financial merger to be effective from July 4 |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/indusind-bank-bharat-financial-merger-to-be-effective-from-july-4/articleshow/69863550.cms?from=mdr |publisher=[[The Economic Times]] |date=June 19, 2019}}</ref>

== Operations ==
As of March 2025, the bank has 41 million customers, 3,081 branches, and 3,027 [[Automated teller machine|ATMs]] in India.<ref>{{Cite web |date=2025-05-21 |title=Shadowed by financial discrepancies: IndusInd Bank posts largest-ever quarterly loss at Rs 2,328.92 crore |url=https://www.financialexpress.com/business/industry-shadowed-by-financial-discrepancies-indusind-bank-posts-loss-of-rs-2328-92-crore-for-q4fy25-3852671/ |access-date=2025-09-17 |website=The Financial Express |language=en}}</ref> It is an empaneled banker for [[Multi Commodity Exchange|MCX]]. Its shares have been a part of the [[NIFTY 50]] index since 1 April 2013.<ref>{{cite news |title=IndusInd Bank goes live on direct tax collection system of CBDT |url=https://www.cnbctv18.com/finance/indusind-bank-goes-live-on-direct-tax-collection-system-of-cbdt-16244521.htm |publisher=[[CNBC TV18]] |date=March 23, 2023}}</ref>

== Controversy ==

=== Derivative accounting discrepancies ===
Between 2023 and 2025, IndusInd Bank identified accounting irregularities related to its [[Derivatives market|forex derivatives]] transactions, after a September 2023 directive from the [[Reserve Bank of India]] (RBI) mandated banks to adopt [[Mark-to-market accounting|mark-to-market]] valuation for derivatives. An initial internal review estimated the potential financial impact at ₹1,572 crore in December 2023, which was revised upward to ₹2,361 crore by May 2024.<ref>{{Cite web |title=Sebi bars former IndusInd Bank CEO, four others from market for insider trading |url=https://www.livemint.com/companies/sebi-indusind-bank-sumant-kathpalia-insider-trading-11748442555094.html |website=Mint}}</ref>

On 11 March 2025, IndusInd Bank's shares crashed over 27% after it disclosed the discrepancies, with analysts raising questions on the bank's internal controls.<ref>{{Cite web |date=2025-03-11 |title=IndusInd Bank shares crash 27% to record worst trading day ever. Here's why |url=https://www.indiatoday.in/business/story/indusind-bank-shares-crash-20-to-hit-52-week-low-why-is-it-falling-today-2691909-2025-03-11 |access-date=2025-03-11 |website=India Today |language=en}}</ref> IndusInd Bank's Managing Director and CEO, Sumant Kathpalia, resigned in April 2025, taking "moral responsibility" for the discrepancies. His resignation followed that of Deputy CEO Arun Khurana, who stepped down a day earlier.<ref>{{Cite web |date=2025-05-01 |title=IndusInd Bank CEO resigns |url=https://www.financialexpress.com/business/industry/nbspindusind-bank-ceo-resigns/3826942/ |access-date=2025-05-01 |website=Financialexpress |language=en}}</ref>

Independent audits were conducted by [[PwC]] and [[Grant Thornton]], with Grant Thornton estimating a cumulative impact of approximately ₹1,960 crore. In April 2025, the bank reported a reduction in net worth of ₹1,979 crore, or 2.27%, following revaluation adjustments.<ref>{{Cite news |date=2025-05-16 |title=IndusInd Bank clarifies on new accounting irregularities, says Rs 674 crore 'incorrectly recorded as interest' |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/indusind-bank-clarifies-on-new-accounting-irregularities-says-rs-674-crore-incorrectly-recorded-as-interest/articleshow/121192583.cms?from=mdr |access-date=2025-06-27 |work=The Economic Times |issn=0013-0389}}</ref><ref>{{Cite news |last1=Mahanta |first1=Vinod |last2=Mehta |first2=Sangita |date=2025-05-15 |title=IndusInd Bank probes yet another accounting issue |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/indusind-bank-probes-yet-another-accounting-issue/articleshow/121170868.cms?from=mdr |access-date=2025-06-27 |work=The Economic Times |issn=0013-0389}}</ref><ref>{{Cite web |date=2025-05-27 |title=NFRA to investigate IndusInd Bank over accounting discrepancies in forex derivative |url=https://www.financialexpress.com/business/industry-nfra-to-investigate-indusind-bank-over-accounting-discrepancies-forex-derivative-3858967/ |access-date=2025-06-27 |website=The Financial Express |language=en}}</ref>

=== Insider trading investigation ===
After the accounting discrepancies came to light, reports stated that [[Securities and Exchange Board of India|SEBI]] began investigating possible [[insider trading]] by senior officials of the bank.<ref>{{Cite web |title=Sebi probes insider trading at IndusInd Bank: Report |url=https://www.deccanherald.com/business/indias-markets-regulator-probes-insider-trading-at-indusind-bank-report-3464876 |access-date=2025-03-27 |website=Deccan Herald |language=en}}</ref><ref>{{Cite news |date=Mar 27, 2025 |title=Insider trading glare on senior IndusInd Bank officials. What do rules say? |url=https://www.business-standard.com/companies/news/insider-trading-glare-on-senior-indusind-bank-officials-what-do-rules-say-125032700415_1.html }}</ref> In May 2025, SEBI banned Kathpalia and four others from dealing in the share market,<ref>{{Cite web |last=Shaikh |first=Subhana |date=2025-05-28 |title=SEBI Bans IndusInd Bank Ex-CEO Sumant Kathpalia, Four Others From Securities Market |url=https://www.ndtvprofit.com/markets/sebi-bans-indusind-bank-ex-ceo-sumant-kathpalia-four-others-from-securities-market |access-date=2025-05-29 |website=NDTV Profit |language=en}}</ref> accusing them of selling shares before the bank publicly announced the losses and avoiding about ₹20 crore in losses. SEBI froze their accounts and barred them from trading while the investigation continued.<ref>{{Cite web |date=2025-05-28 |title=SEBI bars former IndusInd Bank CEO, top executives from stock market over insider trading charges - BusinessToday |url=https://www.businesstoday.in/markets/stocks/story/sebi-bars-former-indusind-bank-ceo-top-executives-from-stock-market-over-insider-trading-charges-478149-2025-05-28 |access-date=2025-06-27 |website=Business Today |language=en}}</ref>

==See also==
{{Portal|Banks}}
* [[Banking in India]]
* [[List of banks in India]]
* [[Indian Financial System Code]]

==Notes==
:{{note|New-generation|a}} The term 'new-generation' refers to banks established after the Reserve Bank of India issued updated licensing guidelines for new private sector banks in 1993.<ref>{{cite web|date=3 January 2001|title=Guidelines on entry of new banks in the private sector|url=https://rbidocs.rbi.org.in/rdocs/PressRelease/PDFs/18094.pdf|access-date=7 November 2020|website=[[Reserve Bank of India]]}}</ref>

==References==
{{Reflist}}

== External links ==
* {{Official website|https://www.indusind.bank.in/}}

{{Nifty 200 companies}}
{{CNX Nifty companies}}
{{Banking in India}}

[[Category:IndusInd Bank| ]]
[[Category:Banks established in 1994]]
[[Category:Banks based in Mumbai]]
[[Category:1994 establishments in Maharashtra]]
[[Category:Indian companies established in 1994]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Hinduja Group]]

IndusInd Bank - Revision history

TeresaGuercio23 at 04:25, 10 March 2026