Romesh Sobti Business Updates

Romesh Sobti is a seasoned banker with a wealth of experience in the industry. He has been the Managing Director and CEO of IndusInd Bank since 2007.

Romesh Sobti has led IndusInd Bank's expansion into new markets and has been instrumental in the bank's growth into a leading private sector bank in India.

Under his leadership, IndusInd Bank has reported significant profits and has been recognized for its innovative banking practices.

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Romesh Sobti, the former CEO of IndusInd Bank, has made significant contributions to the banking industry. He led the bank to become one of the top private banks in India.

Under Sobti's leadership, IndusInd Bank expanded its operations to 1,000 branches across the country. He also increased the bank's customer base to over 6 million.

The bank's profits also saw a significant rise during his tenure, with net profits increasing by over 20% in some years.

Adani Green Energy has recently appointed Romesh Sobti as an additional director to its board.

Romesh Sobti brings with him a wealth of experience, having been the Managing Director & CEO of IndusInd Bank from 1 February 2008 till 23 March 2020.

Sobti has a remarkable 46 years of experience in the banking sector, having worked in all three sectors: public, foreign, and private.

IndusInd Bank witnessed a robust growth in its top line and operating income during the March quarter and previous financial year.

The bank's bottom line was affected by provisioning against exposures to IL&FS.

The provisioning against IL&FS was `1,273 crore, including `1,000 crore written off for tax benefits.

Bulk of the slippages came from IL&FS, but apart from that, the bank had more recoveries than slippages, amounting to -0.6% of the loan book.

Recoveries for the quarter totaled `700 crore.

The potential stressed group is at 1.9% of the loan book of `1.8 lakh crore.

Stressed accounts are best reflected in overdues, with SMA 1 and SMA 2 standing at 0.32% and 0.34% respectively.

Only SMA 2 – which is the 60 to 90 days overdue – is stressed, amounting to `640 crore.

Romesh Sobti, the former CEO of IndusInd Bank, played a crucial role in the acquisition of Bharat Financial Inclusion Limited.

The deal value was indeed accretive, adding significant value to the bank's assets.

Romesh Sobti's leadership was instrumental in making the deal a success, leveraging his expertise in banking and finance.

The acquisition marked a strategic move by IndusInd Bank to expand its presence in the microfinance segment.

Bharat Financial Inclusion Limited was a leading microfinance company in India, with a strong presence in rural areas.

The deal was valued at approximately ₹1,770 crore, which was a significant addition to IndusInd Bank's assets.

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