Arijit Basu quits HDB Financial Services and is appointed part-time chairman of IndusInd Bank, replacing Sunil Mehta, who demits office at end of his term
IndusInd Bank reported a sharp fall in profit in Q3FY26 amid a decline in net interest income, while asset quality weakened with gross NPAs rising to 3.56 per cent
Mehta will be succeeded by Arijit Basu, who most recently was the chairman at non-banking finance company HDB Financial Services, a unit of India's top private lender HDFC Bank
IndusInd Bank says SFIO has launched an investigation under Section 212 and sought information after discrepancies were flagged in derivatives and microfinance accounting
ICICI Bank, HDFC Bank, IndusInd Bank from private lenders, and state-run SBI and Bank of Baroda look favourably placed on charts, says Aakash Shah, Technical Research Analyst of Choice Equity Broking.
The RBI has allowed HDFC Bank and its group firms to buy up to 9.5 per cent stake in IndusInd Bank within one year, as the private lender faces losses and governance issue
The bank reported its largest-ever quarterly loss in the three months ended March 31, following a $230 million hit to its accounts, amid governance and accounting failures
IndusInd Bank has made key leadership appointments, naming a new CHRO, chief data officer, head of wholesale banking and an MD and CEO for Bharat Financial Inclusion, its microfinance subsidiary
IndusInd expects to grow in line with the country's banking sector next year, its chief executive said last month, following efforts to clean up its books
The brokerage argued that the profitability downcycle, marked by several quarters of net interest margin (NIM) compression and elevated credit costs, is now behind the sector.
In the past one month, the stock price of IndusInd Bank has outperformed the market by gaining 13 per cent, as against 1 per cent rise in the BSE Sensex.
