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IndusInd Bank eyeing to raise Rs 400-500 crore via Tier-2 capital

09 Jul 2011 Evaluate

IndusInd Bank is eyeing to raise Rs 400-500 crore via Tier-2 capital by end of September or beginning of October to meet its capital adequacy needs.

Recently, IndusInd Bank had entered into a memorandum of understanding (MoU) with Indian Army for issuing Salary Accounts to personnel of all ranks of the Indian Army. The MoU was signed by General SP Kochhar, AVSM, SM, VSM, AG’s Branch, the Indian Army and Sumant Kathpalia, Head Consumer Banking, IndusInd Bank.

The bank’s net profit for the quarter ended June 30, 2011 has surged by 51.99% at Rs 180.18 crore as compared to Rs 118.55 crore for the quarter ended June 30, 2010. Its total Income has increased by 47.99% at Rs 1379.98 crore for the quarter under review from Rs 932.5 crore for the quarter ended June 30, 2010.

Peers
Company Name CMP
HDFC Bank 719.35
ICICI Bank 1305.50
Axis Bank 1214.00
Kotak Mahindra Bank 419.80
Indusind Bank 880.00
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