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IndusInd CEO confident of Q4 profit despite derivatives hit
March 12, 2025
|Business Standard
Kathpalia assures strong capital adequacy as promoters reaffirm trust in bank
IndusInd Bank will report net profit for the current quarter (Jan-March) as well as for the full financial year, despite the hit on the bottom line due to discrepancies discovered in the derivative portfolio, Sumant Kathpalia, MD & CEO, IndusInd Bank said in an interview to a news channel on Tuesday.
On Friday, the bank informed the exchanges that the Reserve Bank of India (RBI) granted only a one-year extension to Kathpalia, even if the board recommended a three-year reappointment.
He assured the bank's capital adequacy will remain above 15 per cent, helped by the relief the RBI has provided to banks on relaxation in risk weights on microfinance exposures.
The bank on Monday reported that an internal review of processes related to its derivative portfolio revealed certain discrepancies, which will adversely impact its net worth by 2.35 per cent. Analysts estimate the hit on profit to be between ₹1,500 crore to ₹2,000 crore.
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