Reuters logo
CORRECTED-BRIEF-IndusInd Bank exec: substantially provided for borrowers being taken to insolvency
July 11, 2017 / 9:13 AM / 2 months ago

CORRECTED-BRIEF-IndusInd Bank exec: substantially provided for borrowers being taken to insolvency

(Corrects spelling of CEO’s name in first line to Romesh from Ramesh)

July 11 (Reuters) - India’s Indusind Bank CEO Romesh Sobti says:

* Has reversed provision made for Jaiprakash Associates in March quarter

* No impact of 1.22 billion rupee provision reversal on June quarter net profit

* Has 500 million rupee exposure to 3 accounts being taken to insolvency proceedings

* Has substantially provided for the three accounts

* RBI has asked banks to provide for companies being taken to insolvency over Q2, Q3 and Q4 Further company coverage: (Reporting By Devidutta Tripathy)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below