What is the current situation of IndusInd Bank?

What is the current situation of IndusInd Bank?

IndusInd Bank Q4 Net Profit seen up 51.5% YoY to Rs. 1,403.2 cr: Motilal Oswal. Net Interest Income (NII) is expected to increase by 13.1 percent Y-o-Y (up 5.3 percent Q-o-Q) to Rs. 3,996.2 crore, according to Motilal Oswal.

Is IndusInd Bank in Trouble?

Shares of IndusInd Bank plunged by 10.71 per cent to Rs 1061.45 on Monday (November 8) on the BSE after the bank reported that nearly 84,000 loans were disbursed by its microfinance arm “without the customer consent” due to a “technical glitch” in May 2021.

Is it good to invest in IndusInd Bank?

Core operating performance of IndusInd Bank remains healthy. A higher PCR is likely to safeguard the bank from credit disruption from various restructuring schemes. Thus we retain our BUY rating with price target of Rs 1,195 (based on 1.7x FY23E Adj. BVPS of Rs 703).

How strong is IndusInd Bank?

The Bank recorded the ‘highest’ growth in brand value amongst top global banks, according to ‘The Banker’s Top 500 Banking Brands 2020’ report. As per the report, the brand value of IndusInd Bank has increased by 122% over the past 12 months, making it the highest placed for growth in brand value, across the globe.

Is IndusInd Bank approved by RBI?

IndusInd Bank on Friday informed that the bank has received an intimation from the Reserve Bank of India (RBI) that it has granted its approval to Life Insurance Corporation (LIC), shareholder of the bank, to raise stake in the private lender to up to 9.99%.

Is IndusInd Bank under RBI?

Mumbai 29 October, 2020: IndusInd Bank announced that it has gone live as a ‘Financial Information Provider’ (FIP) under the new ‘Account Aggregator Framework’ of the Reserve Bank of India (RBI), making it the first bank in the country to do so.

Is IndusInd Bank safe to keep money?

Your online fixed deposit account with IndusInd Bank will be as safe as the one you open by visiting the nearest branch. Moreover, up to Rs. 5 lakhs of your online FD account is insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) of India, a subsidiary wholly-owned by the RBI.

Why IndusInd Bank is falling?

WHY SHARES OF INDUSIND BANK FELL TODAY? The shares fell after a recent report, citing a whistleblower complaint about “evergreening of loans” at the bank’s microfinance lending arm, Bharat Financial Inclusion Limited (BFIL).

Why is IndusInd Bank rising?

Private sector lender IndusInd Bank beat Street expectations to report a 50% year-on-year jump in third-quarter net profit, aided by loan expansions and a rise in fee incomes.

Is IndusInd Bank undervalued?

The key valuation ratios of IndusInd Bank Ltd’s currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

How is IndusInd Bank performance?

IndusInd Bank posted a net profit of ₹3,404 crore in 9MFY22 rising by 70% from ₹2,004 crore in the same period last year. Net Interest Income for the nine months ended December 31, 2021 increased to ₹11,016 crore as compared to ₹9,993 crore for the corresponding previous nine months, which grew by 10% YoY.

Will bank stocks do well in 2022?

After a big year in 2021 and a hot start to 2022, bank stocks have lagged in recent months. The combination of a recovering U.S. economy and the potential for aggressive Federal Reserve interest rate hikes could set up bank stocks for outsize earnings growth in the next couple of years.

Is IndusInd Nationalised bank?

IndusInd Bank Ltd is one of the new generation private sector banks in India. The Bank’s business lines include corporate banking retail banking treasury and foreign exchange investment banking capital markets non-resident Indian/high-net-worth individual banking and information technology.

Who is owner IndusInd Bank?

As on September 30, 2021, IndusInd Bank has 2,015 Branches/Banking Outlets and 2,886 ATMs spread across 760 geographical locations of the country….IndusInd Bank.

Which is top bank in India?

Top 10 Banks in India by Size and Market Capital

1. HDFC Bank Ltd. ( NSE: HDFCBANK) …
2. ICICI Bank Ltd (NSE: ICICIBANK) …
3. Kotak Mahindra Bank Ltd. …
4. State Bank of India (NSE: SBIN) …
5. Axis Bank Ltd. ( …
6. IndusInd Bank Ltd. …
7. Yes Bank Ltd. …
8. Punjab National Bank (NSE: PNB)

Is IndusInd Bank safe 2020?

IndusInd Bank deposits are relatively safe in comparison to smaller banks and only recently the bank posted a good set of quarterly numbers. Bank deposits of upto Rs 5 lakhs are also guaranteed by the DICGC, which means there is protection unto this sum.

Which private bank is best?

List of Top 10 Best Private Banks in India

• ICICI Bank. ICICI Bank is a leading private Bank in India. …
• HDFC Bank – Largest Private bank in India. – Advertisement – …
• Axis Bank Ltd. …
• Kotak Mahindra Bank Ltd. …
• IndusInd Bank Ltd. …
• Yes Bank Ltd. …
• IDFC First Bank Ltd. …
• Federal Bank Ltd.

Which bank is government bank?

State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra.