While the concept was originated by Mr. Srichand P Hinduja, Chairman of the Hinduja Group and Global Coordinator of IndusInd, it has been converted into reality through the collective efforts of a large number of businessmen and professionals from India and abroad.

In a span of just 12 years, IndusInd has become a truly global entity through the collective efforts of its members. It has ventured into banking, financial services, media & communication, and philanthropy & social upliftment.

The IndusInd Group was responsible for setting up IndusInd Bank Ltd., the first private-sector bank in India in the post-1991 liberalised era.

The IndusInd organisation, having successfully established IndusInd Bank and other commercial ventures, has also set up a philanthrophic organisation, the IndusInd Foundation, to fulfil the objectives of charity and social upliftment. IndusInd Bank supports IndusInd Foundation’s activities.

As an extension of its multidimensional activities, IndusInd, has also created an apex body of resident and overseas Indians and foreign investors, namely “IndusInd International Federation”, to promote, advance, protect and stimulate the interests of trade, commerce and industry in India and other parts of the world.

IndusInd Bank – History

The Bank, formally inaugurated in April 1994 by Dr. Manhmohan Singh, Honourable Prime Minister of India who was then the country’s Finance Minister, started with a capital base of Rs.1,000 million (USD 32 million at the prevailing exchange rate), of which Rs.600 million was raised through private placement from Indian Residents while the balance Rs.400 million (USD 13 million) was contributed by Non-Resident Indians.

A New Era

The merger with the Bank in June 2004 of Ashok Leyland Finance Ltd., among the largest leasing finance and hire purchase companies in India, set in motion a process of consolidation through the combined customer base of the merged entity and its increased geographical penetration. IndusInd Bank has become one of the fastest-growing banks in the Indian banking sector today with its branch network expanding from 61 as on March 31, 2004 to 137 as on March 31, 2006 – reflecting an increase in excess of 125% in 24 months. The Bank has approximately 150 ATMs of its own, and has concluded multilateral arrangements with other banks with a total network of 15,000 ATM outlets. All the outlets of the Bank, including its branches and ATMs, are connected via satellite to its central database that operates on the latest version of IBM’s AS400-720 series hardware and Midas Kapiti (now, Misys) software.

IndusInd Bank’s broad lines of business include Corporate Banking, Retail Banking, Treasury and Foreign Exchange, Investment Banking, Capital Markets, Non-Resident Indian (NRI) / High Networth Individual (HNI) Banking, and (through a subsidiary) Information Technology.

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 banks to become a part of RBI’s Real Time Gross Settlement (RTGS) system. It has implemented an enterprise-wide risk management system encompassing global best practices in the area of Risk Management, with help from KPMG. This has enabled the Bank to remain in the forefront in complying with the requirements of Basel II. It is the first bank in India to receive ISO 9001:2000 certification for its Corporate Office and its entire network of branches.

With its roots in Indian tradition and emphasis on customer care, IndusInd Bank’s service philosophy is well reflected in the communication tagline “We Care… Dil Se”.

Recent Accolades

IndusInd Bank has won the following accolades in the last financial year (2005-06):

• Ranked among the top ten banks in the country in the ET500 list of leading companies in India.
  
• Rated as “The best among the top 10 private-sector banks” in a survey covering 79 banks conducted by Business Standard in its November 2005 issue. Ranked sixth in the overall list, the Bank was also identified the “Most Efficient Bank” among all banks in India.
  
• Bestowed “India’s Most Productive Bank” status by a Business Today- KPMG Survey
  
• Presented “Outstanding Achiever of the Year 2005- Corporate” (Runner up- Banking Technology Award) by IBA, Finacle (from Infosys) and TFCI (Trade Fair and Conference International).
  
• Honoured with the “Award for Corporate Social Responsibility (CSR)” at the India Brand Summit 2005, Mumbai.

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 6641 2200
Fax: + 91 22 6641 2224