IndusInd Bank clarified there are no discussions underway about the Hinduja group seeking a strategic partner, responding directly to circulating reports. The bank emphasized its strong capital position and ongoing internal restructuring to ensure sustainable growth and investor confidence.
IndusInd Bank has officially dispelled rumors about the Hinduja promoters actively seeking a strategic partner in the bank. In a recent statement, the bank affirmed that no dialogue or negotiations of such nature are currently taking place. This comes amid media speculation on promoters exploring partnerships to bolster capital or bring in private equity investors.
The bank, backed by the Hinduja family, has been focused on internal reforms following a probe that uncovered a ₹1,960 crore accounting discrepancy in its derivatives portfolio, triggering leadership changes and operational adjustments. Despite these challenges, IndusInd Bank reported a capital adequacy ratio above 17%, signaling strong financial health and negating the immediate need for external capital infusion.
The Hinduja group reiterated full support for the management and stressed confidence in the bank’s turnaround plan aimed at profitability restoration within the next 18 months. With no current plans for stake dilution or merger discussions, the bank remains committed to long-term growth and shareholder value creation.
Key Highlights:
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IndusInd Bank denies any ongoing talks for a strategic partner.
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Hinduja promoters fully support the bank’s management and strategy.
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Capital adequacy ratio over 17%, no imminent need for external capital.
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Bank undertaking major internal reforms post ₹1,960 crore accounting probe.
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Turnaround plan targets 1% return on assets within 18 months.
Sources: Economic Times, Business Today, Financial Express