IndusInd Bank

From Wikipedia, the free encyclopedia
Jump to: navigation, search
IndusInd Bank ltd
Scheduled Bank
Traded as NSEINDUSINDBK
BSE532187
LSE16GF
Industry Banking and financial services
Founded Mumbai, Maharashtra India (April 1994 (1994-04))
Founder Srichand P. Hinduja[1]
Headquarters Tower 1, One Indiabulls Centre, 841, Senapati Bapat Marg, Lower Parel, Mumbai[2]
Key people
Romesh Sobti (CEO)
Revenue Increase 82.5 billion (US$1.2 billion) (2014)[3]
Total assets US$15.7 billion(2015)
Owner Hinduja Group
Website indusind.com

IndusInd Bank Limited is a Mumbai based Indian new generation bank,[4][5] 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.[1] 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 donated 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]

IndusInd Bank has 800 branches, and 1500 ATMs as of April 2016.[7] It also has a representative office in London and another in Dubai.[7] Mumbai has the maximum number of bank branches followed by New Delhi and Chennai.[8] The bank has also proposed to double the branches count to 1200 by March 2017.[9]

Board of directors[edit]

Mr. Romesh Sobti has joined the bank as Managing Director and CEO, taking charge from Mr. Bhaskar Ghose. Mr. R. Seshasayee, a Chartered Accountant by profession is the current Chairman. The other members on the board are Dr. T. T. Ram Mohan, Mr. Ajay Hinduja, Mr. S. C. Tripathi, Mr. Ashok Kini, Mrs. Kanchan Chitale, Mr. Vijay Vaid, Mr. R. S. Sharma and Mr. Y. M. Kale.[10]

See also[edit]

References[edit]

  1. ^ a b "Vision and Mission". 
  2. ^ "Locate Us". 
  3. ^ "Untitled Page". 
  4. ^ "INBK - Indusind bank Limited - Google Finance". Finance.google.com. 11 October 2010. Retrieved 12 December 2010. 
  5. ^ "Indusind Bank Ltd Company Profile - IBK INDIA Market Size, Market Share and Demand Forecast". Wrightreports.ecnext.com. 31 March 2010. Retrieved 12 December 2010. 
  6. ^ "Indusind Bank Ltd - Profile". Indusind Bank Ltd. 25 May 2013. Retrieved 25 May 2013. 
  7. ^ a b "Indusind Bank Limited - Profile". Indusind Bank Ltd. 25 May 2013. Retrieved 25 May 2013. 
  8. ^ "Indusind Bank Ltd - Branch Details". All India Codes. 25 May 2013. Retrieved 25 May 2013. 
  9. ^ "IndusInd Retail Research Report - Religare Online" (PDF). Religare Securities. June 23, 2014. Retrieved Sep 16, 2014. 
  10. ^ "Indusind Bank Ltd - Board of Directors". Indusind Bank Limited. 25 May 2013. Retrieved 25 May 2013.