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IndusInd Bank has received PwC's final report quantifying losses from discrepancies

ICICIdirect Research 16 Apr 2025 DISCLAIMER

News: IndusInd Bank has received PwC’s final report quantifying losses from discrepancies in its derivative portfolio at ₹1,979 crore, translating to a 2.27% post-tax hit to its net worth as of December 2024—slightly lower than the bank’s earlier estimate of 2.35%. The bank plans to reflect this in FY25 results and enhance internal controls. Meanwhile, RBI has directed a forensic probe by Grant Thornton Bharat, which is underway.

View: While estimates by external agency being in-line with management announcement, thus expected to restrict any major downside. Q4FY25 results remain critical monitorable, given probability of utilization of contingent provision to report profit despite recognition of the derivative losses.

Impact: Neutral

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