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IndusInd Bank Ltd. ( (IN:INDUSINDBK) ) has issued an update.
IndusInd Bank Limited has disclosed the findings of an independent investigation into accounting discrepancies related to internal derivative trades. The investigation revealed a cumulative adverse accounting impact of INR 1959.98 crores due to incorrect accounting practices, particularly in early termination of trades. The bank plans to address these discrepancies in its financial statements for FY 2024-25 and has already ceased internal derivative trades from April 2024. Measures are being taken to strengthen internal controls and ensure accountability among key employees involved in the lapses.
More about IndusInd Bank Ltd.
IndusInd Bank Limited operates in the banking industry, providing a range of financial services including loans, deposits, and investment solutions. The bank focuses on both retail and corporate clients, with a significant presence in India and listings on major stock exchanges, including the National Stock Exchange of India and the Luxembourg Stock Exchange.
YTD Price Performance: -15.16%
Average Trading Volume: 577,892
Current Market Cap: 640.6B INR
For an in-depth examination of INDUSINDBK stock, go to TipRanks’ Stock Analysis page.