Appointment of Mr. Sumant Kathpalia as Managing Director & CEO of IndusInd Bank

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Mumbai, February 28, 2020:   As previously advised to the Exchanges, the Bank’s Nomination & Remuneration Committee and the Board had considered and submitted the name of a potential candidate for the role of MD & CEO, to the Reserve Bank of India (RBI), seeking an approval for the appointment.

We are pleased to advise that the Bank has received a communication from the RBI today, approving the appointment of Mr. Sumant Kathpalia, who currently heads the Bank’s Consumer Banking business, as the MD & CEO for 3 years , with effect from March 24, 2020, post the retirement of Mr. Romesh Sobti, the current MD & CEO.

About IndusInd Bank

IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on December 31, 2019, IndusInd Bank has 1851 Branches/ Banking Outlet and 2721 ATMs spread across 746 geographical locations of the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges – BSE and NSE – and major commodity exchanges in the country, including MCX, NCDEX and NMCE.

IndusInd Bank on April 01, 2013 was included in the NIFTY 50 benchmark index.

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