INDUSIND BANK
IndusInd Bank is one the new-generation private bank specializing in retail banking services and showing the presence of its geographical footprints by 2000 branches across the country. The IndusInd bank offers a broad category of products and services pan India and they give the maximum priority to the customer experience. The IndusInd bank is backed by the Hinduja group who have been involved in diversified businesses from banking to transport and energy to technology & media. Recently, French development agency Proparco made a $75 million (about Rs 560 crore) loan to mid-sized private-sector lender IndusInd Bank for its microfinance division.
The mission of IndusInd bank is to consistently add value to all their stakeholders and emerge as India’s most convenient Bank with Best-in-Banking financial parameters together with the doubling of their loan book, clients and profits within the next three years. While their vision is to be customer-responsive, a change agent for financial inclusion and deliver sustainable and compliant returns.
The Bank has adjudged the Best Commercial Bank of the Year (India) and the Best Innovation in Retail Banking at the International Banker Awards, 2018. Introduced a new range of market first products, like the IndusInd Bank Duo Card – a Debit-cum-Credit Card, the IndusInd Bank Nexxt Credit Card – an interactive Credit Card with buttons and IndusAssist, banking on Amazon Echo.
IndusInd released Q4 results on 30th April 2021 reporting growth of 11.53% in the profit at Rs. 926.22 Cr. for this quarter against Rs. 830.41 Cr. in the previous quarter. Consequently, revenue grew by 2.46% to Rs 7,419.36 crore in this quarter while profit before tax grew by 13.78% QoQ and gross profit margin grew by 3.52% QoQ. Also, the Board of directors recommended a dividend of Rs. 5 per equity share for the year ended on 31st March 2021.
The overall cash flow ended up on the positive side and an increase in cash and cash equivalents, operating cash flow and improvement in gross NPA percentage can be seen.
The Q4 results of IndusInd bank were bosting.
