IndusInd Bank reports $230M loss, CEO resigns
pre-market1 source ↓written by the desknot a recommendation
- as the RBI
- 0.5% to ₹846.95
- until December 2026
- 9.5%
IndusInd Bank reported a record quarterly loss of $230 million for Q1 FY2024, prompting the resignation of CEO Sumant Kathpalia and Deputy CEO Arun Khurana. Following the announcement, shares fell 0.5% to ₹846.95 as the RBI approved HDFC Bank to increase its stake to 9.5% until December 2026.
This significant loss and leadership change may impact investor sentiment and trading activity in the banking sector.
Not investment advice. For informational purposes only.