IndusInd Bank is Indian new Generation bank located in Pune and has many branches across India and even in foreign countries. The bank is known to offer commercial, transactional and electronic banking products and services. Inaugurated in the year 1994 by then Union Finance Minister Manmohan Singh, IndusInd bank was among the new-generation private banks with advanced technology for fast pace banking solution to the customers. With just billion as the capital amount, the bank manage to raise 600 million by Indian residents and 400 million by the non-resident of India.
Listing and Revenue
| Revenue | ₹18,577.16 crore |
| Operating Income | ₹5,451.01 crore |
| Net Income | ₹2,867.89 crore |
| Total Assets | ₹178,648.41 crore |
Products and Services
IndusInd has also been known for providing the best retail banking services with regular upgrades to offer great supporting system with new technologies. IndusInd Bank with more than 1500 branches and 2000 ATMS has spread across the country. The bank has managed to offered quality products that includes Credit cards, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, Investment banking.
It also offered some of the valuable services such as Branch banking, Consumer Finance, Corporate Banking & Finance, Commercial & Transaction Banking, Cash Management Services (CMS), Trade Service Utility (TSU), Depository Operations, Treasury Operations, and Wealth management Service
History
IndusInd Bank Limited started its operations on 17 April 1994 with a capital amount of Rs. 1 billion under the chairmanship of S.P. Hinduja. Under the chairmanship of S.P. Hinduja. It is believed that name of the bank was derived from the Indus Valley Civilisation. It started with an aim to serve the NRI community. Over the past few years, the bank has grown quite a lot to offer its valued customers with the best customer service without compromising with the quality standards.
Acquisition
The real asset of the IndusInd Bank still remains the same as its strength. IndusInd bank has acquired Bharat Financial which the bank is hoping to make the assets stronger. Further, the bank is still in talking terms for the Acquisition of two units of the debt-strapped Infrastructure Leasing and Financial Services Ltd.
Awards
IndusInd Bank received Golden Peacock Awards in the year 2014 for Special Recommendation - Sustainability awarded by Institute of Directors, India. It also won Leadership Awards for Best Rural Outreach. The bank has the Certificate of Merit awarded by World CSR Congress. It also earned some other awards such as Asia Corporate Excellence & Sustainability Awards and Amity CSR Award & Corporate Meet.
Subsidiaries
IndusInd Bank entered the financial services and also the bullion trading activities to Indian entities to set the joint venture with wholly-owned subsidiaries abroad. It includes IndusInd Financial Inclusion, IndusInd Bank Ltd, Asset Management Arm and IndusInd Bank Limited.