IndusInd may have inflated its interest income: Reports

Mumbai: Indesind bank It is possible net interest income In the erstwhile quarters, research reports by Brokerage House have been stated. As a result, the lender will take an important hit in its profit for the fourth quarter as it addresses the same.
During an analyst call last week, IndusInd Bank said that it identified discrepancies Forex derivative portfolio Related to transactions done in the last 7-8 years. During the internal review of its derivatives trade book in October 2024, it discovered issues related to FY24 and earlier foreign exchange deposits and borrowings.
“Derivative disadvantage, although one-band, is a shock to management credibility. Transactions should not be considered as two-legs, when one is purely internal. Applying individual standards in each leg made it even worse and the bank effectively made NII (net interest income) for an extended period.”
On Saturday, the RBI issued a statement that the bank was stable and depositors should not react to speculation. The RBI asked the bank to fix discrepancies in its financial by the end of the quarter ended March 31, 2025, which meant that the PWC who has been appointed for external evaluation would have to complete his work in a very short time.
“There is an opportunity to address investor doubt with a statement rent on choosing promoters and boards now. Sumant KathpalThe successor, “The report states.
“Financial hits (about 2.35% of 2.35% of the net worth) will be absorbed as a one -time fee in 4QFY25, which is rooted via P&L statements. The exact figure may vary slightly, with a final report required by the bank appointed for independent review and verification,” Motilal Oswal In its report on the bank.
“We believe that the board will accelerate the process of evaluation of both internal and external candidates to hire a suitable heir, which will help reduce concerns and improve investor’s trust,” the Motel Oswal report said.