The Indus Swells

The bank is firmly in the top draw; and is at an inflection point

- Raghu Mohan

IT IS NOW WELL ESTABLISHED that when you speak about the marquee private banks in the country, IndusInd Bank is there up among the best in class. It is a remarkable achievement given that the first decade of its existence can well be called the “lost years” — the bank muddled its way until its promoters, the Hindujas, buzzed Romesh Sobti, then head of ABN Amro Bank in India in late 2009 to set things right. For the last few years, the bank has graced the podium in the BW Businessworld Best Banks’ Surveys with the knowledge support of PwC; in the 10th edition, it is again been judged the ‘Best Mid-sized Bank’.

Fiscal 2017 was an extraordinary year — demonetisation (and later the Goods and Services Tax/GST) saw the management bandwidth of banks being taken up by logistics on both accounts; add on the state of the credit markets, it is a wonder that IndusInd still managed to keep the metal pressed to the floor.