IndusInd Bank notifies not to believe in rumours as they are financially strong

IndusInd Bank has announced that it is financially strong, well-capitalised, profitable and a growing entity with strong governance. In a statement it said, various market rumours and speculation incorrectly reflect on the bank's financial health and are totally misplaced, motivated and not based on facts,.

It also added that Induslnd Bank is committed to all its stakeholders and we would urge all our stakeholders to not believe unsubstantiated information and mischievous rumours.

The bank said its gross non-performing assets (NPAs) last quarter (October to December) at 2.18 per cent were second-lowest in the industry among large private sector banks. They expect current quarter gross NPAs to be pretty much in line with that of last quarter.

According to reports, relief measures for the telecom sector are under the process of approval. "This is a significant positive step and we await further decisions and details in this manner."

The bank said its real estate developer (commercial and residential) book had zero gross NPAs. The gems and jewellery financing portfolio too had zero gross NPAs while commercial vehicle and microfinance portfolios remain steady and range-bound.

The bank said it maintains liquidity well above 100 per cent going up to 120 per cent on a daily basis. The deposit business of both retail and corporate segments is steady. However, a couple of state government entities have made withdrawals amounting to less than 2 percent of our total deposits.