We are financially strong and well-capitalised: IndusInd Bank
New Delhi: Private sector lender IndusInd Bank has said it is financially strong, well-capitalised and profitable, amid market rumours about the health of the lender after the Yes Bank crisis came to light.
"In the wake of the significantly higher level of market rumours and speculation around IndusInd Bank stock, we would like to reiterate that the Bank is financially strong, well-capitalised, profitable, and a growing entity with a strong governance," it said in a late night statement on Tuesday.
The bank's stock ended nearly 9 per cent down at Rs 604.30 on the BSE on Tuesday.
The lender said gross non-performing assets (NPAs) in December quarter 2019 stood at 2.18 per cent which was lowest among large private sector banks.
"We expect current quarter gross NPA to be pretty much in line with that of last quarter. We expect our net NPA of 1.05 per cent as at the last quarter to fall below 1 per cent, in line with our ambition to take provision cover beyond 60 per cent," it said in the