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 IndusInd Bank was among the first new generation private sector banks that obtained a license in 1994 to drive the process of reforms in the post liberalization era in India. It was conceptualised by Mr. S. P. Hinduja, Chairman of the Hinduja Group, as a platform to channel contributions from the worldwide NRI community into India’s social and economic development.
The Bank has blazed new trails in technology-supported, cost-efficient, and customer-friendly banking – starting with Corporate and Wholesale Banking and followed by an aggressive foray into Retail Banking. In every year of its existence, the Bank has reported profits and paid healthy dividends to its shareholders. It is the first Bank in India to receive ISO 9001:2000 certification for its Corporate Office and its entire network of outlets.
In December 2003, the Bank was further strengthened by the merger of Ashok Leyland Finance Ltd. (ALFL), the second largest leasing, financing and hire- purchase NBFC in India. ALFL had assets in excess of Euro 500 million, a client base of over 500,000 and a network of over 500 offices. The combined client base will be in excess of 900,000 customers. This merger marries IndusInd’s capacity to mobilize stable and economically priced funds with an NBFC’s ability to ensure superior returns through high–yielding loans. Complete synergy exists because there is very little overlap between the product offerings of the two institutions.
Highlights of the Bank (As on March 31, 2005):
- Capital funds in excess of Euro 190 million
- Total volume of business in excess of Euro 3882 million
- 232 outlets (branches, extension counters, ATMs, vehicle finance divisions, including offices in Dubai and London), expected to double in the near future.
- Capital Adequacy Ratio of 11.62%, as against Reserve Bank’s prescribed minimum of 9%.
- Among the highest efficiency standards in the industry, with business per employee at Euro 1.59 million and a cost to income ratio of 32.59%.
- Return on Assets – 1.35% as on March 31, 2005
- Return on Equity – 25.79% as on March 31, 2005
- Accorded a rating of F1+ (highest investment grade) for certificate of deposits by Fitch Ratings India Pvt. Ltd., an international rating agency.
- Accorded a rating of P1+ (highest investment grade) for fixed deposits and certificate of deposits by CRISIL, reputed rating agency.
The Bank’s broad lines of business include Corporate Banking, Retail Banking, Treasury and Foreign Exchange, Investment Banking, Capital Markets, NRI / High Networth Individual (HNI) Banking, and Information Technology (through a subsidiary).
From the very beginning, the Bank placed great faith in modern technology, acquiring IBM’s AS 400 hardware and Midas Kapiti (now, Misys) software for its core banking operations. Using VSAT and lease lines for superior connectivity the Bank could extend “Anywhere Banking” facilities to its customers as far back as 1994. Internet Banking was launched in 1996 and Mobile Banking in 1997, well in advance of other Indian banks. In September 2002, the Bank introduced online access to personal bankers in partnership with CR2, the Dublin-based, global provider of channel banking and card payment solutions. World – class Treasury software presently being installed, will further enhance the Bank’s capability to offer new and innovative products in the areas of Treasury and Investment Banking.
IndusInd Bank provides multi-channel facilities including ATMs, net banking, mobile banking, phone banking, multi-city banking, and international debit cards. It was one of the first few banks to become a part of RBI’s Real Time Gross Settlement (RTGS) system. The Bank is implementing an enterprise-wide risk management system encompassing global best practices in the area of Risk Management, with the help from KPMG. This has enabled the Bank to remain in the forefront in complying with the requirements of Basel II.
Further information on IndusInd Bank can be found at
 www.indusind.com
IndusInd Bank Limited
701-801, Solitaire Corporate Park
167, Guru Hargovindji Marg
Andheri (East)
Mumbai 400 093
India
Tel: + 91 22 5641 2200
Fax: + 91 22 5641 2224
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