IndusInd Bank : First among the new-generation private banks in India
IndusInd Bank is a scheduled private bank in India. It is founded in 1994 in Mumbai, Maharashtra. It is the Indian new generation bank which offers commercial, transactional and electronic banking products and services. The bank started its operations with a capital amount of Rs.1,000 million.
Rs.600 million was donated by the Indian Residents and Rs. 400 million was raised by the Non-Resident Indians. This bank operates many business including Corporate Banking, Retail Banking, Treasury and Foreign Exchange, Investment Banking, Capital Markets, Non-Resident Indian (NRI) or High Networth Individual (HNI) Banking and Information Technology (through a subsidiary).
IndusInd Bank have more than 1000 branches and over 1,800 ATMs spread across the country. This bank operates its business in outside India such as in London, Dubai and Abu Dhabi. It is one of the fastest growing bank in the Indian banking sector. They provides multi-channel facilities such as ATMs, Net Banking, Mobile Banking, Phone Banking, Multi-city Banking and International Debit Cards.
The private bank IndusInd reported 27% rise in net profit at Rs. 836.5 crore for the June quarter ended in 2017. It was Rs 661.38 crore in the previous year’s net profit. The market capital of IndusInd bank is Rs 97,558.32 crore.