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IndusInd Bank Completes 25 Years Of Its Operations
IndusInd Bank completes 25 years of its operations in the banking industry and since then its stock has returned a whopping 34 times return. Saying this we mean Rs. 100 invested in the bank's stock in the year 1998 is equivalent to Rs. 3,410.
The bank promoted by NRI group started its operations with a capital of as much as Rs. 100 crore which was raised from both resident and NRIs. The initial public offer fetched the bank as much as Rs. 180 crore.
Romesh Sobti who is at the helm of the banking entity will step down from his position in March 2020.
The loan book at the bank has reported a CAGR of 28% to Rs. 1.73 lakh crore. And its total network comprises ,558 branches and 2,453 ATMs as of December 31, 2018. In the quarter ended December, a profit of Rs. 985.03 crore came in with a 5.21% y-o-y increase.
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