IndusInd Bank

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IndusInd Bank Limited
Public
Traded asNSEINDUSINDBK
BSE532187
CNX Nifty Constituent
IndustryBanking
Financial services
Founded1994 (25 years ago) (1994)
FounderS. P. Hinduja
HeadquartersMumbai, Maharashtra, India.
Key people
ProductsCredit cards, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, Investment banking
RevenueIncrease18,577.16 crore (US$2.7 billion) (2017)[1]
Increase 5,451.01 crore (US$790 million) (2017)[1]
Increase 2,867.89 crore (US$410 million) (2017)[1]
Total assetsIncrease178,648.41 crore (US$26 billion) (2017)[1]
OwnerHinduja Group
Number of employees
25,314 (2016)[1]
SubsidiariesBFIL[2]
Capital ratio15.31% [1]
Websitewww.indusind.com

IndusInd Bank Limited is a Mumbai based Indian new generation bank,[3][4] established in 1994. The bank offers commercial, transactional and electronic banking products and services. IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.[5] Indusind Bank is the first among the new-generation private banks in India.

The bank started its operations with a capital amount of Rs. 1 billion among which Rs. 600 million was raised by the Indian Residents and Rs. 400 million was raised by the Non-Resident Indians. The bank has specialized in retail banking services and continuously upgrades its support systems by introducing newer technologies. It is also working on expanding its network of branches all across the country along with meeting the global benchmark. According to the bank, its name is derived from the Indus Valley Civilisation.[6]

As on 31 December 2018, IndusInd Bank has 1,558 branches, and 2453 ATMs spread across in different geographical locations of the country.[7] It also has representative offices in London, Dubai and Abu Dhabi. .[8] Mumbai has the maximum number of bank branches followed by New Delhi and Chennai.[9] The bank has also proposed to double the branches count to 1200 by March 2019.[10]

History[edit]

The bank began its operations on 17 April 1994 under the chairmanship of S.P. Hinduja with the primary objective of serving the NRI community.

Board of directors[edit]

Romesh Sobti joined the bank as Managing Director and CEO during the financial year 2007-08. R. Seshasayee, a chartered accountant, is the current chairman of the board. The other members on the board are Rajiv Agarwal, Kanchan Chitale, Shanker Annaswamy, T. T. Ram Mohan, Akila Krishnakumar, Arun Tiwari, and Siraj Chaudhry..[11]

Banking Services[edit]

  • Branch banking
  • Consumer Finance
  • Corporate Banking & Finance
  • Commercial & Transaction Banking
  • Cash Management Services (CMS)
  • Trade Service Utility (TSU)
  • Depository Operations
  • Treasury Operations

See also[edit]

References[edit]

  1. ^ a b c d e f g "Balance Sheet 31.03.2017" indusind.com (15 March 2018).
  2. ^ "IndusInd Bank adds 2% on NCLT nod for merger with BFIL". moneycontrol. Retrieved 25 April 2019.
  3. ^ "INBK - Indusind bank Limited - Google Finance". Finance.google.com. 11 October 2010. Retrieved 12 December 2010.
  4. ^ "Indusind Bank Ltd Company Profile - IBK INDIA Market Size, Market Share and Demand Forecast". Wrightreports.ecnext.com. 31 March 2010. Retrieved 12 December 2010.
  5. ^ "Vision and Mission".
  6. ^ "Indusind Bank Ltd - Profile". Indusind Bank Ltd. 25 May 2013. Retrieved 25 May 2013.
  7. ^ "IndusInd Bank Q3 Operating Profit at Rs. 2,117 crores" (PDF). IndusInd Bank.
  8. ^ "Indusind Bank Limited - Profile". Indusind Bank Ltd. 25 May 2013. Retrieved 25 May 2013.
  9. ^ "Indusind Bank Ltd - Branch Details". All India Codes. 25 May 2013. Retrieved 25 May 2013.
  10. ^ "IndusInd Retail Research Report - Religare Online" (PDF). Religare Securities. 23 June 2014. Retrieved 16 September 2014. Cite journal requires |journal= (help)
  11. ^ "Indusind Bank Ltd - Board of Directors". Indusind Bank Limited. 25 May 2013. Retrieved 25 May 2013.