IndusInd Bank History
BSE:532187 | NSE:INDUSINDBKEQ | IND:Banks - Private Sector | ISIN code:INE095A01012 | SECT:Banks
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The Company History page lists out the major events in chronological order for IndusInd Bank Ltd.
| Company History - IndusInd Bank Ltd. | ||
| 1994 - The bank was incorporated on January and obtained Certificate of Commencement of Business in February 1994. The bank was promoted by IndusInd Enterprises and Finance Ltd. (IEFL) and five Mauritius based companies viz. IndusInd International Holdings Ltd. (IIHL) IndusInd (Mauritius) Holdings Ltd. (IMHL) IndusInd Ltd. (IL) IndusInd Investments Ltd. (IIL) DeFive Mauritius Holdings Ltd. (DFMHL). The bank commenced commercial operation in April. It undertook all kinds of banking business. - The bank proposed to set up an investment bank as a subidiary of the bank for concentrating on various faces of investment banking viz. issue management, corporate advisory service, infrastructure financing, mergers and acquisitions, trading and depository services etc. It was also proposed to introd uce the concept of "investment boutique" at selected branches viz. Ahmedabad, Chennai, Mumbai etc. - All operating outlets have direct access to Nostro Accounts through sophisticated computerised system "SWIFT". 1995 - 1200,00,000 No. of Equity shares issued. - The Company joined hands with Kredietbank NV, (KB) - Brussels, Belgium and a Memorandum of Understanding for strategic alliance has been signed with them in order to enhance capability to global standards. - The Bank has made a preferential offer of 2 crores equity shares of Rs. 10 each for cash at a premium of Rs. 40 per share aggregating Rs. 100 crores on private placement basis to the shareholders of the Bank, (other than promoters), shareholders of the promoter companies, and the employees of the Bank and of the promoter companies. 1996 - The Bank has a state-of-the-art dealing room at Nariman Point, Mumbai, catering to several additional positions of dealers and corporate analysts aimed at further enhancing the profitability of its investments. - The bank caters to the needs of NRI customers from 40 countries with deposits totalling Rs 905 crores. - 9 branches were added to the network and the number of branches doubled to 18. 1997 - The company issued 400,00,000 No. of equity shares of Rs 10 each for cash at a premium of Rs 35 per share to the public. - The Company has successfully launched the 'anywhere banking' concept and bank's customers can look at it as 'one Bank'. - IndusInd Bank has launched Fast Forex to wipe out delays in sending and receiving funds to and from foreign centres. Fast Forex is an international remittance product utilising the 24-hour processing and communication capabilities of SBC Warburg, the bank's USD clearing agent, through their electronic banking system Keylink. - The bank's shares were admitted for dematerialisation under a tripartite agreement signed by the bank, its registrars, Spectrum Corporate Services, and NSDL. 1998 - IndusInd Bank Ltd has launched its Banking on the Net service on March 24. This facility will serve as an alternate delivery channel that IndusInd Bank offers its customers in addition of branch banking, on-line ATM's and tele-banking. The customer can access Internet access Internet banking facilities not only through the Net but also through dial-up access on a common browser platform. - IndusInd Bank, has launched its new product, Fast Forex, which can remit funds to any part of the world at the fastest possible speed. - Bank has introduced net bank a product offering on the internet and the site can be visited on www.indusind.com by any customer who can register for this service. 1999 - The Bank has entered into an agreement with National Securities Clearing Corporation Ltd. of National Stock Exchange (NSE) whereby the Bank will act as official banker to NSE. - The private sector bank has also introduced a number of technologically superior products--like fast forex, anywhere banking, Internet banking and depository services--through the electronic delivery channels. 2000 - IndusInd Bank signed a memorandum of understanding (MoU) with HSBC for issuing global credit card under the MasterCard franchise to its customers. - IndusInd Bank Limited has launched its exclusive international remittance system-FAST (Fully Automated Straight Through) Forex. - IndusInd Bank has appointed Tata Consultancy Services for implementation of the asset-liability management (ALM) plan of the bank. - The Bank has tied up with the cellular company, Orange, for short messaging service facilities for mobile banking in Mumbai. - The Bank has signed an agreement with Financial Software and Systems for acquisition of the BASE24-ATM switch. - The Bank has opened its 28th Branch in Surat, Gujarat. - The Bank has launched its global credit card, to be issued in association with the HongKong and Shanghai Banking Corporation Ltd. under the Mastercard franchise. - IndusInd Bank has launched an e-broking platform, eTrading, at its Mumbai main branch to facilitate online trading of equity shares. - Kothari Pioneer Mutual Fund and IndusInd Bank have joined hands to enter into an alliance. 2001 - The Bank has entered into a strategic alliance with Sri Lanka-based National Mercantile Bank. 2002 - IndusInd Bank Ltd has informed that the Board of Directors have appointed Mr S Venkitramanan as Additional Director and Non-executive Chairman subject to approval of Reserve Bank of India. 2003 -IndusInd Bank gets RBI permission to set up offices abroad. -Bank secures ISO 9001:2000 certification for all its branches in the 10th year of its operations. -IndusInd hires KPMG Consulting for assisting the bank to develop an enterprise wide risk management framework to cover risks across all function streams. -Shareholders approved delisting of shares from Pune Stock Exchange -IndusInd, Corp Bank sign agreement for sharing of ATMs -IndusInd Bank Board approves scheme of merger of Ashok Leyland Finance. 2004 -IndusInd Bank Ltd has informed that the Bank has received approval for delisting of its shares from Pune Stock Exchange (PSE) with effect from January 16, 2004. -IndusInd Bank on April 30 launched Indus AIM (anywhere instant money) for inter-bank real time gross settlement (RTGS) transactions. -IndusInd Bank Ltd has accepted the resignation of Mr. Gopal Lohiya, Company Secretary of the Bank with effect from July 5, 2004 -Nagarajan selected as IndusInd Joint MD -IndusInd Bank has offered personal loans for the salary account holders at Global Trust Bank (GTB) -IndusInd Bank inks pact with DDA 2005 -IndusInd Bank opens its 11th branch in Gujarat at Bhavnagar -Morvi Royal Family launches Indusind International Mahila Card in Gujarat -IndusInd Bank sets up new branch at Malappuram -Indusind Bank opens Branch at Trichy -Indusind Bank opens branch at Allahabad -Indusind Bank introduces new services for retail customers 2006 -Indusind Bank Ltd has announced that Doha Bank, Qatar and the Bank, India announced their strategic alliance in Doha -IndusInd joins hand with 2 Gulf banks - Indusind Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on October 31, 2006 has appointed Mr Ajay Hinduja and Mr Premchand Godha as Additional Directors of the Bank, subject to the approval of Reserve Bank of India. 2007 -On January 16, 2007 Aviva Life Insurance and Indusind Bank Ltd has announced their tie-up as Bancassurance partners. - Indusind Bank Ltd has appointed Mr. R Seshasayee has been appointed, with the approval of Reserve Bank of India, Part-time Non-Executive Chairman of the Bank for a period of two years. -Indusind Bank Ltd has appointed Mr. R Seshasayee as the Non-Executive Chairman for a period of two years. -Indusind Bank opens its 19th branch in Tamil Nadu at Sivakasi. -Cholamandalam MS enters into a strategic partnership with IndusInd Bank 2008 - Indusind Bank Ltd has tied up with TVS Motors -IndusInd Bank signs Rs 150-cr deal with SKS Micro -IndusInd Bank signs co-partner agreement with World Gold Council 2009 -lndusind Bank launches "new look branch model" at Bandra -IndusInd Bank signs MoU with ICRA -IndusInd Bank inaugurates its first Solar-powered ATM in Mumbai -Indusind Bank Ties Up With Maruti Suzuki India Ltd 2010 -IndusInd Bank ties-up with Tata Motors for dealer financing -Indus Bank ties up with Toyota Kirloskar Motor -IndusInd Bank ties-up with Ashok Leyland for Channel Financing -Indusind Bank ties up with Unistream Bank for Remittances 2011 -Mahindra's Automotive Sector ties up with Indusind Bank for vehicle finance. -IndusInd Bank bags the IBA award for 'Best use of technology in E-learning - 2010 -IndusInd Bank awarded the ‘Most Improved Bank Performance of the Year'. -IndusInd Bank enters into an agreement with Deutsche Bank to acquire its credit card business in India. -Indusind Bank partners with Finacle from Infosys for its core banking transformation. -Indusind Bank signs an MoU with HDFC Ltd for home loans 2012 -Indusind Bank opens it's first Currency Chest in Mumbai. -Suzuki Motorcycle partners with IndusInd Bank to offer retail customer finance -IndusInd Bank introduces new foreign currency pre-paid travel card 2013 -IndusInd Bank launches Indus Forex Card -Suzuki Two-Wheelers and IndusInd Bank tie up for Retail Finance -IndusInd Bank opens its branch in Alwar -IndusInd Bank enhances its core banking system to Finacle 10.2 version -Banking Frontier - Finnoviti Awards 2013 for My Account My Number -Best Bank Award Customer Management and Business Intelligence Initiatives among Small Banks 2012-13 by IDRBT. 2014 -IndusInd Bank and American Express announce strategic partnership with the launch of the new IndusInd Bank Iconia American Express® Card -IndusInd Bank opens two new branches at Vadodara -IndusInd Bank opens three new branches in Vadodara -IndusInd Bank opens new branch in Lucknow -IndusInd Bank opens new branch in Lucknow -IndusInd Bank opens new branch at Aliganj in Lucknow -IndusInd Bank inaugurates India’s first Digital Branch at Rapid Metro station, Gurgaon -IndusInd Bank and Jet Airways announce strategic partnership with the launch of the new Jet Airways IndusInd Bank Credit Cards -IndusInd Bank launches VIDEO BRANCH -CISO Awarded one of the Top 100 Chief Information Security Officer awards 2014 -Project 'IndusInd Bank Partnership Program' declared as Winner for Financial Inclusion and Payment Systems (FIPS) Awards 2014. -Awarded Best Mid-size Bank and Fastest Growing Mid-size Bank Business World - PwC Best Bank Survey 2014. 2015 - Indusind Bank has inked an agreement with Worldpay to offer domestic acquiring services in India -IndusInd Bank inaugurates a new branch at Dwarakanagar in Vizag -Indusind Bank has entered into an agreement to acquire Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India -The Bank has inaugurated a new branch in Chandigarh -Induslnd Bank launched the Chelsea FC Co-Brand Credit Card -IndusInd Bank opens a new branch in Indore -Indusind Bank opens a new branch in Ujjain -IndusInd Bank has inaugurated a new branch located at Chennai, Chandigarh and Jamshedpur -Induslnd Bank launches "Onthego" Social banking. -Indusind Bank completes acquisition of Royal Bank of Scotland’s Diamond & Jewellery Financing business in India -IndusInd has launched customer responsive service called QuickPay, which allows its customers to send money instantly to their personal contacts and/or business parties through SMS, E-mail and social media platforms 2016 -IndusInd Bank partners with PayU India to revolutionize Digital Banking & Payments -IndusInd Bank bags 3 awards from IBA -IndusInd Bank signs MoU with Indian army -IndusInd Bank launches "IndusInd For Sports"- a non-banking sports vertical -IndusInd Bank inaugurates a new branch at Ranchi, Jharkhand -IndusInd Bank opens new branch in Kolkata -IndusInd Bank opens IFSC Banking Unit at GIFT City -Indusind Bank sings 3 year strategic agreement with IBM -IndusInd Bank inaugurates new branch in Pathankot -IndusInd Bank Paytm partners with Indusind Bank to offer financing options for booking of two-wheelers 2017 - IndusInd Bank strengthens footprint in Sikar, Rajasthan - IndusInd Bank launches IndusForex.com - IndusInd Bank wins Celent Model Bank 2017 Global Award - IndusInd Bank inaugurates 3rd branch in Jamshedpur - IndusInd Bank inaugurates new branch in Jaipur - IndusInd Bank partners IGL for cashless payment solutions | ||
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Cash Flow Statement
Half Yearly Results
Capital Structure
Chairman's Speech
Company History
Locations
Dividends
Splits
Competitors
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