|
IndusInd Bank : On Jan 15 2009 , IndiaInd Bank announced its result for the Q3 qtr ended December 2008. It is among the first new generation private sector banks that obtained a license in 1994 to drive the process of reforms in the post liberalization era in India. It was conceptualised by Mr. S. P. Hinduja, Chairman of the Hinduja Group, as a platform to channel contributions from the worldwide NRI community into India’s social and economic development.
RESULT Headlines :
The company's net profit was at Rs 45.06 crore versus Rs 25.04 crore.
Its net interest income was at Rs 116.5 crore versus Rs 99.56 crore.
Its other income was at Rs 133 crore versus Rs 74.3 crore.
Histroy of Bank
The Bank has blazed new trails in technology-supported, cost-efficient, and customer-friendly banking – starting with Corporate and Wholesale Banking and followed by an aggressive foray into Retail Banking. In every year of its existence, the Bank has reported profits and paid healthy dividends to its shareholders. It is the first Bank in India to receive ISO 9001:2000 certification for its Corporate Office and its entire network of outlets.
In December 2003, the Bank was further strengthened by the merger of Ashok Leyland Finance Ltd. (ALFL), the second largest leasing, financing and hire- purchase NBFC in India. ALFL had assets in excess of Euro 500 million, a client base of over 500,000 and a network of over 500 offices. The combined client base will be in excess of 900,000 customers. This merger marries IndusInd’s capacity to mobilize stable and economically priced funds with an NBFC’s ability to ensure superior returns through high–yielding loans. Complete synergy exists because there is very little overlap between the product offerings of the two institutions.
Subscribe to:
Post Comments (Atom)
0 comments for this post