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The MD and CEO of IndusInd Bank, Sumant Kathpalia plans to sell some of his share in the bank through previous Employee Stock Options (ESOP).In a regulatory filing the bank said that he will sell the shares to repay loans taken to exercise .
India Ratings Revises IndusInd Bank s Outlook to Stable, affirms IND AA+
Posted On: 2021-04-01 01:59:37 (Time Zone: Arizona, USA)
India Ratings and Research (Ind-Ra) has revised IndusInd Bank Limited s (IBL) Outlook to Stable from Negative while affirming its Long-Term Issuer Rating at IND AA+ . The agency has also affirmed the Short-Term Issuer Rating at IND A1+ .
The Outlook revision reflects the following factors: the improvement in IBL s deposit and liability profile; the easing of the agency s concerns on asset-quality metrics; sharper recovery, leading to expectations of moderate credit costs and strengthened capital buffers, as the bank raised about INR53 billion in FY21 (including promoter warrant conversion; total equity raise amounting to 15% of its FY20 net worth); a manageable impact of the COVID-19 led lockdown on its liabilities and an overall manageable impact on the asset quality; and peer-comparable provision buffers.
Risk of a sharp fall in Indian banks’ asset quality has receded: Moody s
The banking system is shifting faster than ever before to an online-centric mode, making access to local bank branches less consequential and the ability to switch banks far easierPremium
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The Indian government s support measures for bank borrowers have softened growth in non-performing loans (NPLs), averting the risk of a sharp deterioration in asset quality, according to Moody s Investors Service in a new report. Ample domestic liquidity, loose monetary policy, moratoriums on loan repayments and government-guaranteed loans to small businesses have supported Indian banks asset quality. As a result, restructured loans have not increased as much as we expected at the onset of the pandemic, says Alka Anbarasu, a Moody s Vice President and Senior Credit Officer.