Welcome to Rapid Current Affairs, In today’s article, we are going to discuss about an appointment of the banking section. As we all know Indusind Bank is India’s most popular banking service along with credit cards and loans. Every bank appoints its valuable CEO and MD to boost its service and business. In terms of the MD and CEO Indusind Bank again appointed Sumant Kathpalia as CEO and MD to maintain the same position.
The term of the reappointed CEO and MD tenure is for 3 years From March 2025 to March 2028. In view of his work and experience, he was appointed to maintain the bank and its related services. As per the records he was working with this bank last 2020.
Professional Background of Sumant Kathpalia
According to the sources Sumant has more than 30 years of experience in the banking sector. Before the IndusInd Bank, he worked with these reputed banks and financial institutions Citibank, Bank of America, and ABN AMRO. He gained name and fame in the banking section and won the business on the sky. He gave more precious time to the Indian Bank to boost its business and expanction.
Leadership Impact at IndusInd Bank
- Led strategies for financial management, investor relations, mergers & acquisitions, digitization, compliance, and governance.
- Instrumental in the bank’s business turnaround and strengthening its balance sheet, deposits, capital adequacy, and profitability.
Financial Achivements
- The net profit reached ₹2,171 crore, marking a 2.2% year-on-year increase, though it fell short of CNBC-TV18’s projection of ₹2,292 crore.
- Net Interest Income (NII) grew by 11.1%, rising to ₹5,408 crore compared to ₹4,867 crore in the previous year.
- Gross NPA increased to ₹7,127 crore, representing 2.02% of total assets, while Net NPA rose to ₹2,095 crore, or 0.60% of total assets. The share price closed at ₹1,462.05 on the BSE, reflecting a 0.66% increase.
About the Indusind Bank
If you are preparing the govt exam specially banking you must know these questions related to the exams. And there is more chances to come these questions in the banking exams.
- Bank Name: Indusind Bank
- Establishement year: 1994
- Head Office: Mumbai Maharashtra
- Found of Indusind Bank: SP Hinduja
- Current MD & CEO: Sumant Kathpalia (Reappointed for the term 2025–2028)