IndusInd Bank has disclosed a significant financial impact stemming from discrepancies identified in its derivative portfolio, amounting to a negative hit of Rs 1,979 crore. The issue, originally flagged during an internal review in March 2025, has now been independently confirmed by an external agency report dated April 15, 2025.
According to the latest assessment, the adverse impact is estimated at 2.27% of the bank’s net worth as of December 2024, slightly lower than the earlier internal estimate of 2.35%. These discrepancies relate to derivative deals that had not been appropriately accounted for.
The bank has assured stakeholders that the financial impact will be reflected in the FY2024-25 financial statements, and it is taking necessary steps to strengthen internal controls and governance frameworks concerning derivative accounting practices.
The Board of Directors held a detailed meeting on April 15, starting at 2:36 PM and concluding at 6:59 PM, to review the matter. The proceedings also continued to address other issues.
This update has also been published on the bank’s official website and is in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Background:
IndusInd Bank had first informed exchanges about the potential discrepancies on March 10, 2025, and had commenced an external review to validate its internal findings. The latest disclosure brings clarity on the financial ramifications and sets the course for remedial action.
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