'not Engaged Ey For Forensic Audit': Indusind Bank Clarifies On Mfi Business Review; Stock Dives 5%

IndusInd Bank Ltd connected Tuesday issued a explanation complete a news report, titled "IndusInd ropes successful EY to behaviour different audit, to probe Rs 600 crore discrepancy successful microfinance portfolio", claiming it has not engaged nan world accounting patient for a forensic audit arsenic cited successful nan news item.

"As a portion of nan process of finalization of accounts, nan Bank's Internal Audit Department (IAD) is conducting a reappraisal of nan Bank's MFI business to analyse definite concerns which person been brought to nan Bank's attention," nan backstage lender stated.

"In relationship pinch this exercise, nan Bank is engaged pinch EY to assistance nan IAD successful reviewing definite records of nan Bank. The reappraisal by nan Bank is ongoing," it added.

Stock-wise, IndusInd Bank plunged 4.88 per cent to adjacent astatine Rs 787.65. At this price, nan crisis-hit backstage lender's scrip has corrected 18.73 per cent connected a year-to-date (YTD) ground amid accounting deviations.

The slope precocious said its deposits grew by 0.4 per cent sequentially successful nan March 2025 4th (Q4 FY25). Net advances declined by 5.2 per cent quarter-on-quarter (QoQ) for nan aforesaid period.

Net advances stood astatine Rs 3,43,298 crore arsenic of March 31, 2025, compared to Rs 3,66,889 crore arsenic of December 31, 2024. On a yearly basis, advances grew by 1.4 per cent. Deposits for nan 4th stood astatine Rs 3,84,793 crore arsenic of March 31, 2025, compared to Rs 4,09,554 crore arsenic of December 31, 2024. On a yearly basis, deposits were up 6.8 per cent.

"Retail deposits and deposits from mini business customers amounted to Rs 1,85,180 crore arsenic of March 31, 2025, arsenic compared to Rs 1,88,730 crores arsenic of December 31, 2024. The regular mean LCR for Q4FY25 was astatine 118.4% and 136.2% arsenic of March 31, 2025," nan slope besides said.

IndusInd Bank mentioned that its CASA Ratio improved to 37.9 per cent successful nan March 4th arsenic against 34.9 per cent successful December and 32.8 per cent successful nan March 4th of past year.