IndusInd Bank shares initially fell nearly 6% but later recovered, trading flat at ₹773.90 on the NSE and 2.75% higher at ₹792.30 on the BSE.
The bank reported a Q4 loss, with fresh slippages amounting to ₹5,014 crore, mainly from the microfinance and two-wheeler segments.
Accounting discrepancies led to a ₹1,960 crore hit on derivative trades, interest income reversal of ₹674 crore, and disclosure of a ₹172 crore fraud in the microfinance business.
IndusInd Bank board dealt with allegations of fraud involving key staff, leading to resignations. The bank is now under new non-executive leadership focusing on addressing past issues.