INDUSINDBK

Updates

** Shares of IndusInd Bank INBK.NS jump as much as 6.1% to 889.90 rupees; top gainer on Nifty Bank .NSEBANK index, which is up about 0.3%

** Private lender reported a bigger-than-expected Q4 profit at 5.33 billion rupees ($56.58 million), helped by slower additions to bad loans and lower provisions

** Emkay expects return on assets to improve to ~1.1-1.4% over FY28–FY29 as credit costs fall

** BofA hikes PT by 40 rupees to 860 rupees and adjusted EPS estimates by 0-4% to reflect growth and improving asset quality

** UBS lifts PT by 70 rupees to 730 rupees and raises EPS estimates by about 5% and 7% for FY27 and FY28, respectively, after raising net interest income and fee income forecasts

** YTD, stock up about 2% vs Nifty Bank's decline of 5.6%

($1 = 94.2100 Indian rupees)

(Reporting by Bipasha Dey in Bengaluru)

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Adds details on bad loans in paragraphs 5 and 6, shares in paragraph 13

April 24 (Reuters) - India's IndusInd Bank INBK.NS reported a bigger-than-expected fourth-quarter profit on Friday, as the pace of additions to bad loans slowed, with provisions also dropping.

The private lender posted a profit of 5.33 billion rupees ($56.55 million) for the quarter ended March 31, beating analysts' expectation of 3.89 billion rupees, per LSEG- compiled data.

In the year-ago quarter, the bank had reported its biggest-ever quarterly loss due to years of misaccounting of internal derivative trades.

Analysts said stress in segments such as microfinance, where IndusInd Bank grappled with high bad loans, would ease during the quarter, as the bank tightened lending, helping limit new bad loans and improving its asset quality.

Its gross slippages, or additions to bad loans, dropped 64% on-year and 29% sequentially to 18.25 billion rupees.

Slippages and recoveries across customer segments improved, the bank said in a statement.

IndusInd's provisions and contingencies declined 38.6% year-on-year and 29% from the previous quarter to 14.84 billion rupees.

Asset quality improved, with gross bad loans as a percentage of total loans dropping to 3.43% at the end of March from 3.56% three months earlier.

The bank came under scrutiny last year after disclosing a $230 million hit in the year ended March 2025 due to misaccounting of internal derivative trades, which raised concerns over governance and led to the resignations of former CEO Sumant Kathpalia and deputy chief Arun Khurana.

Veteran banker Rajiv Anand, who was appointed CEO in August, said in October that the lender planned to grow in segments that typically face less stress.

The bank's loan and deposit growth have remained under pressure over the last year. During the fourth quarter, IndusInd Bank's loans declined 8% year-on-year, the fourth straight decline, while deposits fell 3%.

Net interest income, the difference between interest earned on loans and paid on deposits, climbed 43% year-on-year to 43.71 billion rupees.

Shares of the company ended 1.4% lower ahead of results. They are down 1.9% so far in 2026 compared to a 5.9% drop in the Nifty Bank Index .NSEBANK

($1 = 94.2475 Indian rupees)

(Reporting by Nishit Navin; Editing by Harikrishnan Nair and Mrigank Dhaniwala)

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March 30 (Reuters) - Indusind Bank Ltd INBK.NS:

• INDUSIND BANK - BANK HAS NOT RECEIVED ANY COMMUNICATION FROM SFIO REGARDING SUMMONING OF EMPLOYEES

Source text: ID:nBSE2syKrk

Further company coverage: INBK.NS

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March 27 (Reuters) - Indusind Bank Ltd INBK.NS:

• INDUSIND BANK - SHAREHOLDERS APPROVE APPOINTMENT OF ARIJIT BASU AS PART-TIME CHAIRMAN OF BANK

Source text: ID:nBSEWmYsv

Further company coverage: INBK.NS

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March 26 (Reuters) - IndusInd Bank Ltd INBK.NS:

• LAUNCHES CAPITAL GAINS ACCOUNT SCHEME FOR REINVESTMENT OF CAPITAL GAINS

Source text: ID:nBSE9CP90K

Further company coverage: INBK.NS

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By Dharamraj Dhutia and Gopika Gopakumar

MUMBAI, March 5 (Reuters) - IndusInd Bank's INBK.NS treasury head Siddharth Banerjee is set to step down in April, three sources with knowledge of the matter said on Thursday, marking the latest senior leadership change at the mid-sized private lender.

Banerjee, who has been the head of the global markets group at IndusInd Bank since 2020, has informed the management about his decision, according to the sources, who requested anonymity as they are not authorised to speak to the media.

Reuters could not determine the reason for his planned exit or ascertain whether a replacement has been found.

Banerjee told Reuters via a mobile text message: "I am the head of markets and still working for the bank".

IndusInd Bank did not respond to a Reuters query seeking comment.

The lender has seen a number of changes across its top leadership over the past year after reporting its largest-ever quarterly loss in the quarter ended March 2025, following a $230 million hit tied to governance and accounting failures.

The management changes include the exits of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana. Chairman Sunil Mehta also stepped down after his term ended in January.

IndusInd has also appointed a new CFO, a chief human resources officer and several other senior executives. CEO Rajiv Anand said in November that recruitment will continue as the bank restructures.

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

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Feb 25 (Reuters) - IndusInd Bank Ltd INBK.NS:

• GOES LIVE WITH NEXT-GEN UPI PLATFORM

Source text: ID:nNSEbfHG2H

Further company coverage: INBK.NS

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Feb 20 (Reuters) - IndusInd Bank Ltd INBK.NS:

• EXPANDS GOLD LOAN NETWORK TO 500 BRANCHES

Source text: ID:nBSE9n73qC

Further company coverage: INBK.NS

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Jan 28 (Reuters) - Indusind Bank Ltd INBK.NS:

• RBI IMPOSES 203,000 RUPEES PENALTY ON INDUSIND BANK'S CHENNAI CHEST

• PENALTY FOR DISCREPANCY IN SOILED NOTE REMITTANCE

Source text: ID:nNSE1VkqGq

Further company coverage: INBK.NS

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** Shares of India's IndusInd Bank INBK.NS fall 4% to 857.65 rupees

** On Friday, private lender posted ~25% y/y rise in Q3 profit to 1.61 billion rupees ($17.53 million); results were an improvement from the 4.45 bln-rupee loss in Q2

** Systematix Research ("hold", lifts TP to 950 rupees from 900 rupees) says co's Q3 profit recovery was driven by lower provisions and one-offs, but elevated slippages in microfinance remain a key concern

** Brokerage BobCaps ("sell", raises TP to 833 rupees from 704 rupees earlier) says credit growth continues to lag due to rundown in microfinance loans, even as earnings turn positive

** Stock rated "hold" on avg by 36 analysts, median PT at 822.50 rupees - data compiled by LSEG

** INBK fell ~10% in 2025, stock up 3% so far in 2026

($1 = 91.8470 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

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Adds management commentary

Jan 23 (Reuters) - Indian private lender IndusInd Bank INBK.NS posted a third-quarter profit on Friday, helped by lower expenses and a drop in provisions from the previous quarter when it reported a loss.

The bank's profit fell nearly 90% to 1.61 billion rupees ($17.5 million) for the three months ending December 31 from 14.01 billion rupees a year earlier. The results were an improvement from the 4.45 billion-rupee loss in the second quarter.

IndusInd has shuffled its top leadership over the past year, amid concerns over governance and accounting lapses, which led to the exit of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana.

Earlier in the day, the bank named former State Bank of India Managing Director Arijit Basu as its next chairman as incumbent Sunil Mehta will step down when his term ends in January.

IndusInd took a $230 million hit to its accounts and posted its largest-ever loss in the March quarter. It swung back to profitability in the June quarter.

"Our ambition is to grow in line with market and to deliver 1% return on asset on an exit basis over the next 12 to 18 months," the bank's chief executive Rajiv Anand told reporters in an earnings call.

The lender will not raise any funding in the foreseeable future, Anand said.

For the December quarter, the bank's provisions and contingencies fell 20% from the previous quarter to 20.89 billion rupees. In the September quarter, the bank had raised provisions for its microloan portfolio.

Provisions are funds kept aside for losses that could result from potential bad loans.

Micro loans, one of bank's core offerings, are showing an improvement in "early buckets," IndusInd said in an investor presentation on Friday.

The segment will likely see fewer slippages and higher growth in the March quarter with the trend sustaining over the next few quarters, CEO Anand said.

IndusInd's expenses dropped 7% on year and 4% from a quarter ago.

The quality of its loan book improved slightly with gross non-performing asset ratio slipping to 3.56% from 3.6% at September-end.

Net interest income climbed 3% sequentially but fell 13% year-on-year.

($1 = 91.9310 Indian rupees)

(Reporting by Nishit Navin in Bengaluru and Ashwin Manikandan and Gopika Gopakumar in Mumbai; Editing by Janane Venkatraman and Mrigank Dhaniwala)

((Nishit.Navin@thomsonreuters.com;))

** Shares of IndusInd Bank Ltd INBK.NS ease 0.7% to 894.05 rupees

** Co on Monday reported a sequential decline in loans for a fourth straight quarter, reflecting persistent slack in its growth trajectory

** Jefferies says the bank will consolidate in FY26 and expects improvement in FY27 as a new team takes charge under new CEO; Valuations are attractive for turnaround play

** Nomura says IndusInd Bank is going through a substantial overhaul in terms of processes, senior management, and strategy; Awaits further details on the outlook for the bank's margins and credit costs in Q3FY26 results

** 36 analysts rate the stock "hold" on average; median PT is 750 rupees -- data compiled by LSEG

** Stocks fell ~10% in 2025

(Reporting by Brijesh Patel in Bengaluru)

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Adds details throughout

Jan 5 (Reuters) - IndusInd Bank INBK.NS on Monday reported a sequential decline in loans for a fourth straight quarter, reflecting continued pressure on the private lender's growth.

Loans dropped 2.2% quarter-on-quarter in the October–December period, while deposits rose 1.1%, it said.

On a year-on-year basis, loans fell 13.1%, while deposits dropped 3.8%.

This is in contrast to other major lenders like HDFC Bank HDBK.NS and Kotak Mahindra Bank KTKM.NS, which have reported double digit year-on-year loan growth for the December quarter, signalling a rebound in credit demand in the world's fastest-growing major economy.

IndusInd Bank has been under pressure since disclosing a $230 million hit in the year ended March 31, 2025 due to misaccounting in internal derivative trades, which raised concerns over governance and led to the resignations of the then CEO Sumant Kathpalia and deputy chief Arun Khurana.

Veteran banker Rajiv Anand took the helm at IndusInd in August after receiving regulatory approval from the Reserve Bank of India.

IndusInd shares, which had fallen sharply post the misaccounting disclosure, have largely recovered. However, loan and deposit growth has remained under pressure.

The lender's current account and savings account (CASA) ratio – a key measure of low-cost deposit base and operational efficiency – declined to 30.3% from 30.7% in the previous quarter and 34.9% a year earlier.

(Reporting by Nishit Navin; Editing by Shailesh Kuber)

((Nishit.Navin@thomsonreuters.com;))

** India's Indusind Bank INBK.NS set to be the only stock on Nifty Bank index .NSEBANK to log a loss in 2025

** INBK down nearly 10% YTD vs ~17% rise in NSEBANK

** Management changes, accounting lapses and suspected employee fraud have weighed on the stock this year; INBK hit its lowest level in 2025 after former CEO's shorter tenure extension in March

** Analysts avg rating on the stock is "sell", the only one in the Nifty Bank index; median PT is 750 rupees - data compiled by LSEG

** INBK last up 3.1% at 867.65 rupees on Wednesday

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))

Changes sourcing in paragraphs 1-3

Dec 16 (Reuters) - India's central bank has approved HDFC Bank's HDBK.NS subsidiaries to acquire up to a 9.5% stake in smaller peer IndusInd Bank INBK.NS, the country's largest private sector lender by market value said late on Monday.

The approval is valid for a year from the Reserve Bank of India's letter dated December 15, HDFC Bank said in a statement.

The bank's group entities, such as HDFC Mutual Fund, HDFC Life Insurance, HDFC Pension Fund, and others, received the approval to buy an "aggregate holding" of up to 9.5% of the paid-up share capital or voting rights in IndusInd Bank, it added.

IndusInd reported its largest-ever quarterly loss in the three months to March 31, following a $230 million hit to its accounts, amid governance and accounting failures that prompted the departure of former CEO Sumant Kathpalia and Deputy CEO Arun Khurana earlier this year.

The bank's board has faced criticism from investors over shortfalls in oversight and delays in disclosing the accounting lapses in its derivative portfolio, which led to a hit to the bank's accounts.

Earlier this year, private sector lender IndusInd said it would raise up to $3.47 billion and allow promoters to nominate two board directors.

(Reporting by Gursimran Kaur in Bengaluru; Editing by Rashmi Aich)

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** Shares of IndusInd Bank INBK.NS climb as much as 3.1% to 873 rupees, top gainer among banking stocks .NSEBANK

** Looking for strategic partner, Ashok Hinduja, chair of INBK's controlling shareholder IIHL, tells the Economic Times in an interview

** INBK says there is "no discussion of this nature underway with anyone in the bank"

** INBK is the only "sell" rated stock on the 12-member Nifty Bank .NSEBANK index - data compiled by LSEG

** Shares down ~10% YTD, only stock in the red on the bank index

(Reporting by Nandan Mandayam in Bengaluru)

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Nov 21 (Reuters) - Indusind Bank INBK.NS:

• CLARIFIES ON REPORT "INDUSIND BANK MULLS QIP ROUTE TO RAISE CONFIDENCE CAPITAL"

• DENIES CAPITAL RAISING NEWS

Source text: ID:nnAZN4QWCEP

Further company coverage: INBK.NS

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By Bharath Rajeswaran and Nishit Navin

BENGALURU, Oct 9 (Reuters) - Indian banks are poised to report subdued earnings for the September quarter, weighed down by tepid loan demand across retail and corporate segments and margin contraction due to rate cuts by the central bank, analysts said.

The Reserve Bank of India has lowered its interest rate by 100 basis points this year to revive consumption and investment amid a slowing economy. Rate cuts tend to squeeze banks' margins in the short term, as lenders reduce loan rates faster than they adjust deposit rates.

Analysts forecast private banks to post a year-on-year decline in profit in the September quarter, while net interest income (NII) may see only a marginal uptick.

Sector-wide profit is forecast to fall 7%-12% year-on-year in the quarter, with state-owned banks underperforming larger peers.

Jefferies estimates profits of large banks will fall 12% year-on-year, after posting an 8% growth in the year-ago quarter and a marginal 2% growth in the June quarter.

The brokerage forecasts 5% drop in profit for private lenders and a 20% decline for public sector banks. It expects loan growth at roughly 11% and a flat NII.

Axis Bank AXBK.NS will kick off the banking sector earnings on October 15, followed by Federal Bank FED.NS, ICICI Bank ICBK.NS, IDFC Bank IDFB.NS, IndusInd Bank INBK.NS later in the week.

"Asset quality trends are likely to remain stable due to controlled slippages and robust provision coverage ratios," said Nitin Aggarwal of Motilal Oswal.

Nomura added that stress in unsecured retail and microfinance portfolios remains elevated but delinquency trends are improving, although a gradual profit recovery is likely from the second half of fiscal 2026.

Loan growth is expected to remain muted at around 10% in the September quarter, with corporate and big-ticket retail demand still soft.

Rising bond yields are also likely to weigh on treasury income. "With bond yields rising, treasury gains will not cushion earnings in the September quarter," Axis Securities said.

Analysts expect a recovery from the second half of fiscal year 2026, driven by stronger consumption, government tax relief, and faster growth in unsecured credit.

"We expect the September quarter to mark a turning point, with earnings momentum improving from the December quarter onwards as margin pressure eases and asset quality trends strengthen," said Ankit Bihani, analyst at Nomura.

With the RBI keeping rates unchanged in recent meetings, banks' margins are expected to get some relief from the ongoing quarter as borrowing costs fall and deposit rates adjust.

Banks .NSEBANK, private lenders .NIFPVTBNK and state-owned banks .NIFTYPSU have gained 10.1%, 10.6% and 15% year-to-date, outperforming the Nifty 50's .NSEI 6% rise.

(Reporting by Nishit Navin and Bharath Rajeswaran; Editing by Eileen Soreng)

((nishit.navin@thomsonreuters.com; +91 8340791532))

** Shares of IndusInd Bank Ltd INBK.NS climb 4.8% this week, set for their best weekly show since mid-April

** Private sector lender rose in all four sessions this week

** Morgan Stanley upgraded INBK to "equal-weight" on Monday, citing inexpensive valuations

** INBK also tracking gains in other bank stocks on RBI's latest lending reforms

** INBK third-biggest gainer this week among 10 stocks on Nifty Private Bank .NIFPVTBNK index, which is up 2.4%

** Analysts, however, rate stock "hold" on average; median PT is 750 rupees - data compiled by LSEG

** On Friday, INBK up 0.4% vs 0.5% rise in private bank index

** Stock trims YTD losses to 22%, but remains biggest loser on the index so far this year

(Reporting by Nandan Mandayam in Bengaluru)

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Sept 22 (Reuters) - Indusind Bank Ltd INBK.NS:

• INDUSIND BANK LTD - APPOINTS VIRAL DAMANIA AS CFO

• INDUSIND BANK LTD - SANTOSH KUMAR TO CONTINUE AS DEPUTY CFO

Source text: ID:nBSE6BnL4N

Further company coverage: INBK.NS

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Sept 3 (Reuters) -

• INDUSIND BANK LTD.’S NEW CHIEF IS MOVING QUICKLY TO REDUCE RISKS ON ITS LOAN BOOK- BLOOMBERG NEWS

Source text: https://tinyurl.com/2n8398r2

Further company coverage: INBK.NS

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Aug 25 (Reuters) - Indusind Bank Ltd INBK.NS:

• RAJIV ANAND APPOINTED AS MANAGING DIRECTOR & CEO OF INDUSIND BANK

• RAJIV ANAND ASSUMES CHARGE AS CEO OF INDUSIND BANK

• COMMITTEE OF EXECUTIVES AND OVERSIGHT COMMITTEE DISSOLVED

Source text: ID:nBSE1DQQfV

Further company coverage: INBK.NS

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Aug 22 (Reuters) - India's National Stock Exchange (NSE) said on Friday it will add hospital-chain operator Max Healthcare MAXE.NS and Indigo-parent InterGlobe Aviation INGL.NS to its benchmark Nifty 50 index .NSEI effective September 30.

IndusInd Bank INBK.NS and Hero MotoCorp HROM.NS will be removed from the index as part of the NSE's semi-annual rebalancing, the exchange said.

(Reporting by Hritam Mukherjee and Urvi Dugar in Bengaluru; Editing by Leroy Leo)

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Aug 21 (Reuters) - Indusind Bank Ltd INBK.NS:

• SIGNS MOU WITH NSIC FOR MSME CREDIT ACCESS

Source text: ID:nBSE2P0QLD

Further company coverage: INBK.NS

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Aug 11 (Reuters) - Indusind Bank Ltd INBK.NS:

• INDUSIND BANK LTD - LAUNCHES 'INDUS STARTUP BANKING' PROGRAM

Source text: ID:nBSEbCLy1t

Further company coverage: INBK.NS

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Adds details in paragraphs 4-5, background in paragraphs 7-8 and analyst comments in paragraphs 6, 10-12; updates shares

Aug 5 (Reuters) - India's IndusInd Bank INBK.NS jumped as much as 5.4% on Tuesday after naming Rajiv Anand as CEO, a move that analysts say could pave the way for a turnaround after leadership turmoil amid accounting lapses.

The stock was the top gainer on the Nifty Bank .NSEBANK and Nifty Private Bank .NIFPVTBNK indexes, which were trading 0.3% and 0.1% lower, respectively.

It was also the biggest gainer on the benchmark Nifty 50 .NSEI, which was down 0.5%.

The lender named Anand as CEO following approval by the Reserve Bank of India, which has final authority on senior banking appointments.

Anand, a veteran banker, is currently deputy managing director at Axis Bank AXBK.NS and has held key management positions at leading global financial institutions.

IndusInd Bank took a $230 million hit in the year ended March 31 due to misaccounting in internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.

In the interim, the bank has been steered by the board and two senior officials.

The stock, which has lost 8.5% of its value since the disclosure of the accounting discrepancies in March, was last trading 2.5% higher at 823.15 rupees.

Citi analysts said Anand's 35-plus years of banking experience and track record in scaling retail and corporate businesses are key positives.

The appointment of a seasoned private banker has raised hopes of an early turnaround, said Emkay Global.

Reorganising the bank's top management may be among Anand's initial top priorities, Jefferies analysts said, reiterating a "buy" rating on the stock.

The stock carries an average "sell" rating, with a median price target of 750 rupees, per data compiled by LSEG.

Despite Tuesday's gains, IndusInd Bank is the worst year-to-date performer on both the Nifty Bank and Private Bank indexes, down 14%.

(Reporting by Kashish Tandon in Bengaluru; Editing by Sonia Cheema)

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July 29 (Reuters) - ** India's IndusInd Bank INBK.NS swung to profit in Q1 on lower operational expenses, however, its asset quality worsened and provisions for bad loans rose

** Shares trading 1% higher at 809.50 rupees

CAUTION STILL WARRANTED

** Emkay Global ("reduce," PT: 700 rupees) says even though management believes asset quality will gradually improve as microfinance stress eases, caution is warranted amid rising stress in commercial vehicles portfolio across lenders and given potential risk of further cleanup by new management

** UBS ("sell," PT: 600 rupees) says INBK had another weak quarter, adding that they expect loan growth to remain subdued at 7% for the current fiscal

** JP Morgan ("underweight," PT: 550 rupees) says while INBK's profitability recovered from record loss in Q4, core trends suggest limited scope for sustained improvement in returns

** Investec ("sell," PT: 650 rupees) says INBK has a tough climb ahead on profitability, cuts FY26 and FY27 EPS estimates by 15% and 6%

(Reporting by Kashish Tandon in Bengaluru)

((kashish.tandon@thomsonreuters.com; Mobile: +91 8800437922))

BENGALURU, July 28 (Reuters) - India's IndusInd Bank INBK.NS reported a drop in first quarter profit on Monday, hurt by decline in loans and rise in provisions for potential bad loans.

The country's fifth largest private lender by assets said its profit fell 68% to 6.84 billion rupees ($78.93 million) for the quarter ended June 30.

In the previous quarter, IndusInd had reported its biggest-ever quarterly loss, as it took a $230 million hit to its accounts in the year ended March 31 due to years of misaccounting of internal derivative trades.

($1 = 86.6600 Indian rupees)

(Reporting by Nishit Navin and Ashwin Manikandan; Editing by Mrigank Dhaniwala)

((Nishit.Navin@thomsonreuters.com;))

July 25 (Reuters) - Indusind Bank Ltd INBK.NS:

• INDUSIND BANK LTD - CHRO ZUBIN MODY RESIGNS FROM INDUSIND BANK

Source text: ID:nBSE77mxJq

Further company coverage: INBK.NS

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July 18 (Reuters) - IndusInd Bank INBK.NS will consider a proposal to raise funds by issuing long-term bonds at its board meeting on July 23, the Indian lender said on Friday.

The board will consider issuing the bonds on a private placement basis and whether to increase capital through depository receipts and qualified institutional placements.

The bank took a $230 million hit in the fiscal year ended March 31 due to years of misaccounting of internal derivative trades, prompting the resignations of CEO Sumant Kathpalia and deputy Arun Khurana in April.

It has shortlisted senior bankers from three other financial organizations, including HDFC Bank HDBK.NS, for the position of CEO, Reuters reported in June.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Sahal Muhammed)

((Ananta.agarwal@thomsonreuters.com;))