IndusInd Bank Tackles Past Challenges with New Leadership

IndusInd Bank is implementing strategic measures to resolve its historical treasury and microfinance challenges, according to Chairman Sunil Mehta.

The move comes as part of efforts to recover from the financial turmoil caused by past irregularities. The bank previously reported a substantial net loss for the March quarter of FY25, mainly due to missteps at the top management regarding bad loans and trading reverses. With accountability in place, the bank's management and board aim to foster a culture of trust and compliance.

Having put the financial impact of past issues behind, IndusInd Bank has reported a quarterly net profit of Rs 604 crore, signifying a return to stable financial performance. The bank is now looking to enhance its growth in sectors like vehicle finance, retailisation, and mid to small corporates while maintaining caution in unsecured segments. Additionally, the board has appointed Rajiv Anand as the new Managing Director and CEO to guide the bank over the next three years.

(With inputs from agencies.)