Indusind bank has announced its target to double its business size by the year 2020 as measured in terms of its clients, loans and profits. The bank has recorded a net profit at Rs. 2,868 crore in FY17. The bank stated that it plans to rebalance its loan book by expanding the non- vehicle retail portfolio which includes loan against property, credit cards, personal, rural, gold and business loans segment from 18 per cent to 30 per cent of the total book by the year 2020.
Private sector lender, IndusInd Bank has received an approval to raise capital of Rs. 1,000 crore by issuing Basel III compliant bonds. The board has passed the resolution for raising funds through issuance of rated, listed, non-convertible, perpetual, subordinated and unsecured Basel III-compliant bonds in the nature of debentures towards non-equity regulatory additional tier 1 capital. The debentures will carry a face value of Rs. 10 lakh each aggregating to Rs. 1,000 crore and will be raised on a private placement basis. The bonds have been rated stable ‘AA’ both by Crisil and India Ratings & Research.
IndusInd Bank has inaugurated its first branch in Gaya which is famous for its ancient and mythological significance as well as it as a popular tourist hub. The new branch is located at Nandan Niketan, Nagmatia Road, Gaya. With the inauguration of this branch, the Bank now has 18 branches in the state of Bihar. The branch will cater to both individual as well as corporate customers.
Private sector lender IndusInd Bank has raised Rs 1,000 crore by issuing bonds compliant with Basel III standards. The boards of directors have passed the resolution for issuance of Basel III compliant bonds towards non-equity additional tier I capital for cash aggregating to Rs 1,000 crore on private placement. The bonds have been rated stable AA both by Crisil and India Ratings and Research.
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