The bank’s chairman, Sunil Mehta, said IndusInd has taken “decisive measures” to address identified legacy challenges, which were linked to past irregularities in loan recognition and trading reverses.
These issues had earlier resulted in a consolidated net loss of Rs 2,329 crore for the March quarter of FY25.
Highlighting the bank’s recovery, Mehta said the corrective actions were implemented with enhanced oversight and controls in place and are aimed at restoring trust, compliance, and accountability within the institution.
After grappling with losses in the previous quarter, IndusInd Bank has swung back into the black, reporting a net profit of Rs 604 crore in the latest quarter.
According to Mehta, the financial impact of legacy issues is now “behind us,” with sustainable earnings achieved without any carryover of past irregularities. The bank also underscored the strength of its balance sheet and reaffirmed its focus on sustainable growth, particularly in vehicle finance, retailisation, mid- and small-sized corporates, and granular liabilities, while maintaining a cautious stance on unsecured lending.In a key development, the board of directors has approved the appointment of Rajiv Anand as Managing Director and Chief Executive Officer, effective August 25, 2025, for a three-year term. Anand, who previously served as Deputy Managing Director at Axis Bank, brings over 35 years of experience in banking and finance, with expertise spanning capital markets, treasury, asset management, and retail and corporate business expansion.Mehta emphasised that the bank is “anchored towards emerging stronger, more transparent, and more customer-focused.” The leadership transition, combined with the resolution of legacy issues and a return to profitability, will keep IndusInd Bank firmly in the spotlight on the bourses today.On Wednesday, shares of IndusInd Bank closed 0.9% lower at Rs 778.30 on the BSE.
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