Ours has been an incredible journey. From charting a whole new path, to setting new benchmarks along the way, we have done it all. Yet, as we celebrate 25 years of banking, we still have a lot to look forward to, and many more milestones to achieve.
Mr. Srichand P. Hinduja, a leading NRI businessman and head of the Hinduja Group, conceived the vision of IndusInd Bank.
The Bank was formally inaugurated in April 1994 by Dr. Manmohan Singh, the then Finance Minister of India. The Bank began its operations with USD 35 million with the first branch being opened at Opera House, Mumbai.
The Bank issued an Initial Public Offering in November 1997 and raised USD 30 million.
Successfully launched the concept of 'Anywhere Banking' by growing its network to 18 branches and 11 ATMs.
The Bank widened its product portfolio by introducing services like FAST Forex, Indus Home, Indus Estate, and Indus Auto among many others.
The Bank forayed into Mobile Banking and offered it to its customers across the country.
During the same period the Bank also introduced 'lndusNet' - its Internet Banking platform as well as Phone Banking services.
Also introduced a suite of loan products - Housing, Personal and Auto.
The Bank merged with Ashok Leyland Finance Limited.
The Bank further amalgamated with IndusInd Enterprises and Finance Ltd. - an NBFC as well as one of the promoter of the Bank.
IndusInd Bank tied up with Ashok Leyland for channel financing, with a focus on expanding the scope of client relationships.
The Bank inaugurated its 100th branch at Dadar in Mumbai.
IndusInd Bank raised Rs. 170 crore through issuance of Tier-II bonds.
IndusInd Bank entered into an agreement with NCDEX as their clearing banker.
The Bank raised Rs. 146 crore through issuance of Global Depository Receipts (GDR -1).
Mr. Romesh Sobti joined the Bank as its Managing Director and CEO, along with ﬁve of his colleagues, from RBS Bank.
Soon after, the Corporate and Commercial Banking Unit was commissioned with the aim of providing financial and banking solutions to small, mid and large sized corporates.
The Bank launched a host of Savings and Current Account products with a focus on growing the Consumer Banking portfolio.
There was a focused effort on strengthening our Product Delivery capabilities across all product groups - Global Markets, Transaction Banking and Investment Banking.
Corporate & Institutional and Commercial Banking business verticals were established to cater to all Corporates.
Public Sector vertical was established to cater to varied Banking requirements of Public Sector Clients at Central as well as at State Levels.
Financial Institution Group was created to develop Correspondent Banking relationship with multinational Banks in different geographies.
Raised Rs. 222 crore through issuance of Global Depository Receipts (GDR-2).
Unveiled a new advertising campaign, featuring actors Omi Vaidya and Shruti Seth, which highlighted customer friendly services such as Mobile Alerts, Online Payments and Ready2Use Savings Account Kit.
Raised Rs. 480 crore through Qualified Institutions Placement (QIP-1).
The Bank started a unit for Microfinance.
The Bank launched new products for Corporate Clients expanding our offerings to include Loan Syndication, Micro Finance and Warehouse Finance.
Pioneered the concept of Solar ATMs by installing the 1st solar powered ATM in Maharashtra.
Launched Green Champions Program for employee engagement on environmental and social activities with the onboarding of 75 Green Champions.
Responsive Innovation became the DNA of the Bank with the introduction of Choice Money ATM, Open 365 Days and Check-On-Cheque. The same were launched with a multi-media campaign featuring Ranveer Shourey.
Raised Rs. 1,173 crore through Qualified Institutions Placement (QIP -2).
The Bank launched new products and business segments including PSU Banking, Structured Finance and Structured Trade.
Under the Hum Aur Hariyali Campaign, the Bank commenced its Green Initiatives viz. conversion to LPG/CNG vehicles, recycled papers, e-statements, usage of CFL/LED lights, thin computing, adopt a plant campaign, etc.
The Bank launched a brand campaign for market-ﬁrst products - Direct Connect, Quick Redeem Service, Cash-on-Mobile ATM, featuring Neetu Kapoor & Jimmy Shergill. Crossed 300 branches in India.
Signed an MoU with HDFC Ltd. for Home Loans.
The Bank acquired Deutsche Bank's Credit Card business in India.
Raised Rs. 2,000 crore through Qualified Institutions Placement (QIP-3).
The first Currency Chest of the Bank was launched in Mumbai and the second one in New Delhi.
The Bank launched Micro Finance Institution (MFI) through the Business Correspondent (BC) Model.
Micro Finance Business Correspondent program was awarded "Certificate of Merit" under Top 50 products by Skoch India.
IndusInd Bank successfully completed installation of 100 Solar Powered ATMs and achieved emission savings of 154 MT CO2.
Launched the market-first product - My Account My Number, with a multi-media campaign featuring Sharman Joshi.
The Bank also launched the Indulge Credit Card, the first Credit Card in India with 22 K gold inlay.
The Bank stock was included in the NIFTY 50 benchmark index.
21,679 kwh of energy was generated through solar installation at the Bank's owned premise at Karapakam, Chennai, which was the pilot project for a larger power output.
Inaugurated India's first Digital Branch at IndusInd Cybercity Station at Rapid Metro, Gurgaon.
Launched Video Branch service with a multi-media campaign featuring Farhan Akhtar.
The Bank was ranked 19th in the BrandZ list of Top 50 Most Valuable Indian Brands, by Millward Brown.
The third Currency Chest was launched in Chennai.
Project Finance business catering to infrastructure development with focus in renewable energy, road sector, water management, power transmission/distribution was created.
Real Estate segment was launched for Corporate Clients.
The Bank achieved its 1st Green Branch certification – LEED Gold rating from the US Green Building Council.
The Bank acquired Diamond & Jewellery Financing business of RBS in India.
The Bank reached the milestone of 1,000 branches.
Raised Rs. 5,081 crore through Qualified Institutions Placement (QIP-4) and Preferential Issuance to the Promoter Entities.
The Bank gave a commitment to the Ministry of Renewable Energy in 2015 for financing 2 GW in 5 years; by January 2019, the Bank has already achieved funding of 3.7 GW of projects.
The Bank partnered with Samhita for creating awareness among women on their legal rights and financial education. More than 5,000 women have been trained and the aim is to cover 65,000 women over 3 years in Madhya Pradesh.
The Bank achieved leadership in Carbon Disclosure Project (CDP) in the Indian Corporate Sector.
Another market-first product was launched - Fingerprint Banking through a campaign featuring Farhan Akhtar and Boman Irani.
The Bank was ranked 12th in the BrandZ Top 50 Most Valuable Indian Brands 2016, by Millward Brown and WPP.
The Bank introduced specialized approach in catering to industries and created business units in Healthcare, Education, Logistics, Pharma, MNC and Financial Services.
Launched IndusInd For Sports to promote sporting ideals like human values, inclusion and sustainability.
The Bank supported 18 para–athletes under the Sports vertical in partnership with GoSports Foundation. Their run for glory at the Paralympics 2016 was supported by the campaign #JeetKaHalla.
The Bank successfully implemented 1st Large CSR Project - Water Conservation Project in Satara with the rejuvenation of Check Dam at Dighewadi impacting 110 acres of land and benefitted more than 1 lakh villagers.
The Bank adopted the Indian Blind Cricket Team as principal sponsors with CABI and Samarthanam, which went on to win the T20 World Cup by defeating Pakistan.
The Bank published its 1st Integrated Report.
Received funding from OPIC ($225 million) & ABD ($200 million) for women borrowers under Microfinance.
Rural Distribution Service Point set up in partnership with Business Correspondents.
The Bank announced merger with Bharat Financial Inclusion Limited - one of the largest Microfinance Institutions in India.
The Bank won the Best Mid-Sized Bank award at BW Business World Magna Awards 2017.
Mr. Romesh Sobti, Managing Director and CEO, was honoured with the Best Banker Award.
Introduced business verticals with specific focus on segments like Education, Logistics, Pharma, Healthcare, etc.
Third initiative under the Sports Vertical launched – the Girl Power Programme that supports 60 girl athletes.
The Bank launched Get Set Run - An employee engagement initiative with the objective to have a healthy and happy workforce.
MoU with CSC for educating 3,00,000 people on digital literacy in three years commenced, spread across 275 districts in 11 States.
Green Procurement - Server Virtualization resulted in saving of emissions of 1,811 MT CO2.
Introduced a new range of market first products, like the IndusInd Bank Duo Card - a Debit-cum-Credit Card, the IndusInd Bank Nexxt Credit Card - an interactive Credit Card with buttons and IndusAssist, banking on Amazon Echo.
The Bank was adjudged the Best Commercial Bank of the Year (India) and the Best Innovation in Retail Banking at the International Banker Awards, 2018. The Bank was awarded Best in Class Client & Supplier Collaboration at ELSC 2018 for Supply Chain Finance business and Best Bank – Supply Chain Finance at 4th SCM Pro Logistics and Supply Chain Awards on 8th December 2018.
The Bank has embarked on the journey of Digitization across its Corporate Banking channels and supported by Business Intelligence Unit, the entire Customer Experience has been revamped.
The Real Estate vertical has helped completion of residential projects and creation of commercial office capacity in the country having funded more than 125 projects till date.
The Bank has strong domain leadership in Microfinance and Diamond business. Disbursements under Microfinance touched Rs. 30,000 crore catering to ~5 million customers.
Debt Capital Markets has ranked in the domestic debt placement league tables at the no. 1 position in terms of number of deals and top 5 in the total volume of deals in both Bloomberg and Reuters.
Supply Chain Finance portfolio crossing Rs. 4,000 crore mark.
The branch network grew to 1,400 and ATMs to 2,203, across 713 geographic locations.
The Bank joined the Water Stewardship Programme launched by the Hinduja Foundation.
IndusInd Bank became the only financial services organization to be featured in CDP India A-List for 3rd consecutive year.
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