Induslnd Bank - IndusInd Bank

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Induslnd BankJanuary 9,2019I'he Asst. Vicc PresidentListing DepartmentNational Stock llxchange of India Ltd.Exchange Plaza, 5th IrloorPlot No. C/1, G BlockBandra-'Kurla ComplexBandra (East), Mumbai - 400 051I'hc Dcputy (]eneral ManagcrCorporate Rclationship Dcpt.IlSI,l Ltd.1't Floor, New'l'rading ItingI{otunda Building, P. J. TowersI)alal Strcct, FortMumbai400 001IISE Scrip Code: 532187NSE Symbol: INDUSINDIIKMadam / Dcar Sir,Unaudited l'inancial Results and Limited Review Rcnortmonth ncriod ended December 31,2018- l'or the Ouartcr and ninc-ln compliance with Regulation 30 and 33 of thc SEIII (I-isting Obligations and DisclosureRequirements) I{egulations,2015, wc notify that the l}oard of Directors of the Bank, at theirmeeting held today in Mumbai, have approvcd, intcr alia, thc lJnauditcd Irinancial I{esults ofthe Bank for the quarler and nine-month pcriod endcd Dcccmbcr 3 i, 2018.The Board also took notc of the 'Limitcd Itcvicw Iteport' issucd by thc Bank's Auditors,M/s. S.R. Batliboi & Co. LLP. Chartercd Accountants.We forward herewith the above as cnciosures.'fhc Board Mecting commcnccd at1I : 15 a.m. andconcludcdat .5Op.m.ln compliance with Listing Regulations, the [Jnauditcd Ii'inancial Results along with LimitedRevicw I{eport are bcing hosted on thc Bank's wcbsitc at www.indusind.com.Kindly take the same on record and oblige.Yours faithfully,F'or Induslnd Ilank LimitcdIlaresh K. aJwanICompany S retaryEncl. : a/aAndherilnduslnd Bank Limited, 701-8Ot Solitaire Corporate Park, 167, Guru Hargovindji Marg'(022) 66412224Mumbai - 400 093. Maharashtra, India Tel: (022) 66412200 Fax:Registered Office:2401 Gen.Thimmayya Road, Pune 41 1 001' Indiafetl (ozo) 2634 3201 Fax: (020) 2634 3241 Visit us at www'indusind'comCIN: 1651 91 PNI 994P1C076333(E),

S.R.Banwor*Co.12th Fioor, The Ruby29 Senapati Bapat llargDadar (West)LLPChartered Accountantsi\,4umbai -400 028, lndiaTel : 91 22 6819 8000Limited Review ReportReview report toThe Board of Directorslnduslnd Bank Limited1.We have reviewed the accompanying statement of unaudited standalone financial results oflnduslnd Bank Limited (the'Bank') for the quarter and nine months ended December 31,2018(the 'Statement'), being submitted by the Bank pursuant to the requirement of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015. The disclosuresto "Pillar 3 under Basel lll Capital Regulations", "Leverage Ratio" and "LiquidityrelatingCoverage Ratio" as have been disclosed on the Bank's website and in respect of which a link havebeen provided in aforesaid Statement have not been reviewed by us. This Statement is theresponsibility of the Bank's management and has been approved by the Board of Directors. Ourresponsibility is to issue a report on the Statement based on our review.2.We conducted our review in accordance with the Standard on Review Engagements (SRE) 241Q,Reviewof lnterim Financial lnformation Performed by the lndependent Auditor of the Entityissued by the lnstitute of Chartered Accountants of lndia. This standard requires that we plan andperform the review to obtain moderate assurance as to whether the Statement is f ree of materialmisstatement. A review is limited primarily to inquiries of the Bank personnel and analyticalprocedures applied to financial data and thus provides less assurance than an audit. We have notperformed an audit and accordingly, we do not express an audit opinion.3.to our attention that causes us tobelieve that the accompanying Statement of unaudited standalone financial results prepared inaccordance with applicable accounting standards and other recognized accounting practices andpolicies has not disclosed the information required to be disclosed in terms of Regulation 33 ofthe SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2OL5 including themanner in which it is to be disclosed, or that it contains any material misstatement or that it hasnot been prepared in accordance with the relevant prudential norms issued by Reserve Bank oflndia in respect of income recognition, asset classification, provisioning and other relatedBased on our review conducted as above, nothing has comematters.a.The comparative financial information of the Bank for the corresponding quarter and nine monthsperiod ended December 31,2017, guarter ended June 30,2018 were reviewed by predecessorauditor and the financial statements for the Bank for the year ended March 31,2018, wereaudited by the predecessor auditor who expressed an unmodified conclusion on those financialinformation on January 11,2018, July 10,2018 and an unmodified opinion on April L9,2OL8,respectively.S.R. BATLIBOI & CO. LLPlCAl Firm registration number: 301O03E/E300005Chartered Accountants\A--k/'per VirenH. MehtaPartnerMembership No.:048749Date:January 9,2019Place:Mumbai

Induslnd BankRegrl. Office ;240L, Gen, ThimmalyaRoad' Cantonment, PuneCIN : L5519IPNL994PLC07 6333Unaualited Financial Results for the quarter/4ll001nine months ended December 31' .09.2018Quaxter Nine monthsentterl31.12.20t7endetl31,12.2018Nine ited zaa:lfl5763413469619i;ii;rereit;; t"r*.!4.*ltrtReserve Bankotlnaiu una otrci2793-102921127443214Interest ExpendedOperaring Expensestr\117ts46:,543tta441 i19n!( t-oirt0lPt;fittliNet profit ( )/t-lft"-oraina.y,q'ctivitis tefot;-tut402t744735Loss C) from Ordinary Activities after14.t948.9448.5648.9448.560.59ls./*g*f*s)ir,'i 'r'T/ \lf'{ *,,u,a. , },iiw{t,"-%915.83i59.5

Induslnd BankNot s:There has been no material change in the accounting policies adopted during the quarter ./ nine months ended Decemberfollowed for the year ended March 31, 2018.31, 201 8 as compared to thoseThe working results for the qtartet / nine months ended December 3 1, 201 8 have been arrived at after considering provision for standard assets, includingrequirements for exposures to entities with Unhedged Foreigrr Cunency Exposure, non-perfoming assets (NPAs), depreciation on investments, incometax and other usual and necessary provlsions.The above financial results for the quarter./ nine months ended December 31, 2018 were reviewed by the Audit Committee and subsequently have beentaken on record and approved by the Board of Directors at its meeting held on January 9, 2019. These financial results were subjected to a Limited Reviewby the Statutory Auditors of the Bank who have issued an unmodified report thereon.RBI Masrer Circular DBR.No.BP.BC.l/21.06.201/2015-16 dated July 01,2015, as amended, on Basel III Capital Regulations contain guidelines oncertain Pillar 3 and leverage ratio disclosure requirements that are to be made along with the publication of financial results. Accordingly, such applicabledisclosures have been placed on the website of the Bank which can be accessed at the following link:http://w.indusind.com/content /home/ rmportant-links/regulatory-disclosures-section htmlThese disclosures have not been subjected to the Limited Review.The Capital Adequacy Ratio is computed on the basis of RBI guidelines applicable on the relevant reporting dates and the ratio lor the correspondingprevious period is not adjusted to consider the impact of subsequent changes if any, in the guidelines.Provisions (other than tax) and Contingencies:Advances granted to various companies and SPVs belonging to a Group in the infrastructure sector against certain identified cash flows and pertaining tospecific assets, are classified as'standard'as at December 31, 2018 in compliance with RBI Master Circular on Prudential Noms on Income Recognition,Asset Classification and Provisioning pertaining to the Advances Portfolio (IRAC noms) on the basis of the conduct of the accounts til1 date. SinceOctober 01, 2018, certain governance and management changes have taken place in this Group and measures to tum it around through a Resolution Planare undemay. Bank's management is monitoring the developments and implications of the Resolution Plan. In the interim, as a prudential measure, theBank has made a contingent provision ofRs.255 crores on these'standard'assets which is included under Provisions (other than tax) and Contingenciesduring the quarter ended December 31, 2018, in addition to an amount ofRs.275 crores made during the quarter ended September 30, 2018.On October 14, 2017 , the Board of Directors of the Bank and Bharat Financial Inclusion Limited (BFIL), at their respective meetings, approved a mergeof BFIL with the Bank in an all-stock transaction through a Composite Scheme of Arrangement. The Competition Commission of India has approved theproposed Scheme and RBI has conveyed their'No Objection'for the Scheme and an approval for incorporating a Wholly-Owned-Subsidiary to act asbrsiness Corr.spondent ofthe Bank. The Scheme has'no adverse remarks'from Securities and Exchange Board oflndia (SEBI), National Stock Exchangeoflndia Limited and BSE Limited. In terms ofthe Scheme, Induslnd Financial Inclusion Limited (IFIL) has been incorporated on August 06, 2018 as awholly owned subsidiary ofthe Bank. Pursuant to an order ofNational Company Law Tribunal (NCLT), the respective shareholders and creditors oftheBank, BFIL and IFIL have approved the Scheme. A petition has been filed with NCLT to sanction the Scheme. As such, the proposed transaction doesnot have any impact on the orrent financial results or the financial position ofthe Bank as at December 31, 2018.During the qwafier / nine months ended December 31, 2018, the Bank allotted 786361 shares and 1859376 shares respectively, pursuant to the exercisestock options by certain employees.9Previous periodMumbaiJanuary 9, 20191,(#-()*s5 /year figures have been regrouped/reclassified, where necessary to confom to cutr nt period/year classification.Romesh SobtiMmaging Director

InduslndBankRegd. Office t240L, Gen. Thimmayya Road, Cantonment Pune4llOOLCIN : 165 191PN1994P1C07 6333Segment Reporting for the quarter/ nine monthsended December 3L,2018Business Segments:in lakhsNlne montnsSr.No.aParticularsSesment Revenue :Treasurv 0perationsCorporate / Wholesale Bankingriiil Retail Bankinsl'ivl Other Bankins BusinessTotal I Items (i) to fiv)Less : Inter-sesment RevenuellTotal Incomerb) Segment ResultsRetail Bankingliv) Other Banking BusinessTotal I Items fi) to tivlAdd: Unallocated RevenueQuarter endedQuarter .20L7Year 42367 47381,952220689367252301742L65915 185948.566385734391333 6577t782139565286Lt25072t04405352102108303709 BBO2L1,64Aneratins Profit211696799244166469602053488672665671Less: Provisions & ContingenciesNet Profit before 6754t8495569697881,52625563355 t0192572216261623473666433874455068023873663871,7 43799557 ess: Unallocated ExoensesLess: Taxes including Deferred TaxesExtraordinary Profit / LossNetProfrt(c'l OtherInformationiit Corporate / Wholesale Banking{iiilRetail Bankinel-ivl Other Banking BusinessUnallocated AssetsIotal AssetsSeement1393941"87469:Sesment AssetsTreasurv 0perationsfQuarter ended:Treasury 0perationsriil Cornorate / Wholesale Banlcins11t1Nine months256t9852Liabilitieslreasury OperationsiorporaLe / Wholesale Bankinef iii) Retail BankinsII4550680799557 497232874372805765348393343574oJo.f.)o-)tivl Other Banking BusinessUnallocated LiabilitiesCanital & Other ReservesTotal LiabilitiesMumbaiIanuarv 45722940142007025624B3LgBBRomesh SobtiManaging Director

Company S retary Encl. : a/a lnduslnd Bank Limited, 701-8Ot Solitaire Corporate Park, 167, Guru Hargovindji Marg' Andheri (E), Mumbai - 400 093. Maharashtra, India Tel: (022) 66412200 Fax: (022) 66412224 Registered Office:2401 Gen.Thimmayya Road, Pune 41 1 001' India fetl (ozo) 2634 3201 Fax: (020) 2634 3241 Visit us at www'indusind'com

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