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IndusInd Bank Ltd.


Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE095A01012 | SECTOR: Bank - Private

BSE Live

Jun 01, 13:35
1295.00 8.35 (0.65%)
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  • Bid Price (Qty.)

    1294.95 (24)

  • Offer Price (Qty.)

    1295.70 (12)

NSE Live

Jun 01, 13:35
1295.45 8.85 (0.69%)
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    1295.45 (113)

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    1295.60 (3)

Annual Report

For Year :
2019 2018 2017 2015 2014 2013 2012 2011 2003

Chairman's Speech

Dear Shareholders,

2019 is indeed a memorable year for IndusInd Bank as this is the year your Bank turns 25! As we cross this milestone, there is exuberance and joy at what your Bank has achieved, but more importantly, there is a sense of anticipation and promise of what lies ahead. I can assure you that the future looks very bright for IndusInd Bank.

I derive great pleasure in sharing with you that the merger between IndusInd Bank and Bharat Financial Inclusion Ltd. (BFIL) has worked out very well. We now have a more sustainable platform for financial inclusion, and the merged entity is a perfect fit to your Bank’s rural banking and microfinance theme. We have successfully leveraged the new-found access to best-in-class micro-lending capabilities and domain expertise in microfinance. BFIL had 1,854 branches across 381 districts, which complement IndusInd Bank’s 1,665-strong branch network (including 250 rural branches) and 845 vehicle finance outlets. Post-merger, your Bank will now have over 4,364 banking points (excluding ATMs), serving more than 22.2 million customers.

In our endeavour to serve our client’s needs for wealth management, your Bank introduced ‘PIONEER’ Banking Wealth Management, a platform that effortlessly merges bespoke wealth management solutions with a gamut of personal and commercial banking products for discerning customers.

Another important addition to our suite of digital offerings this year was the launch of ‘IndusSmart’, an online mutual fund platform that has been specifically designed to help our valued customers to learn, invest and plan for their investment goals. The portal is built with enriched information related to investments using various creative formats.

As digital innovation is at the heart of everything we do, your Bank continued to follow the mantra of ‘Responsive Innovation’ through which we enhance customer satisfaction, delight and retention. During FY 2018-19, your Bank pioneered several innovations in the banking sector with service and product offerings that created disruptions within the banking space. Your Bank conceptualised these products by understanding the needs of the customer by analysing their lifestyle through primary and secondary research.

We launched multiple products; including the ‘DUO’ Card, India’s first debit-cum-credit card; the ‘Nexxt’ Credit Card, India’s first interactive card with buttons; IndusAssist, an Alexa-backed artificial intelligence based banking service, and banking on ‘WhatsApp’, a new service on WhatsApp platform.

That’s not all, we also did a host of strategic and tactical tie-ups and partnerships to enhance value propositions for our customers. These partnerships were spread across an array of categories including Travel, Lifestyle, Food & Beverage, Health & Wellness among others.

Your Bank is committed to running its business in a way that generates sustainable value for its customers, clients, shareholders and employees. Your Bank also recognises that since its sphere of activity and influence extends beyond the boundaries of the financial system, it needs to work through various CSR initiatives for social upliftment and environmental conservation. Our efforts included watershed development, installation of water ATMs, rainwater harvesting, restoration of water bodies, rural electrification in 29 villages across Rajasthan, and supporting 60 female athletes under our Girl Power Programme in association with a reputed sports foundation. We take immense pride in the fact that three of these athletes won medals at the Asian Games and the Commonwealth Games.

Operating performance vectors of the Bank showed good momentum during the year. Loan book at Rs.1,86,394 crores and Deposits at Rs.1,94,868 crores recorded a growth of 29%. Net Interest Income at Rs.8,846.18 crores was up by 18%. Non-Interest Income rose at 19% to Rs.5,646.72 crores. Operating Profit for the year increased to Rs.8,088.22 crores from Rs.6,656.11 crores for the previous year showing an increase of 22% over previous year. Net Profit for the year was lower at Rs.3,301.10 crores as against Rs.3,605.99 crores for the previous year on account of one-off impact of a large Group NPA in Infrastructure.

It is gratifying to see that our hard work throughout the year was acknowledged and rewarded by numerous accolades. We were honoured with the ‘Dream Employer of the Year’ award at the 8th Edition of the ET Now Dream Companies of Work for Awards Organised by the World HRD Congress, ‘Best Digital Payment Facilitator’ at the Global Digital Marketing Award by the World Digital Marketing Congress, ‘Asia’s Leading Partner Bank’ at the IDC FIIA 2019 Financial Insights Innovation Award. Your Bank also made it to the list of 40 ‘Best Indian Brands’ of 2019 compiled by Interbrand, the world’s leading brand consultancy, and an Omnicom subsidiary. This is the second time since 2017 that the Bank has been featured in the coveted list.

I would like to thank the regulatory authorities and agencies for their constant support. Finally, my sincere appreciation to my colleagues and members of the Board for guiding and supporting the management team in its endeavours.

Yours Sincerely,

Romesh Sobti

Managing Director & CEO