The lender has seen multiple senior-level exits since April, including that of former CEO Sumant Kathpalia, following reported discrepancies in derivatives accounting and microfinance loan books. The irregularities in the microfinance portfolio were classified as fraud against the bank.
Before joining IndusInd Bank, Gondhalekar served as country head – group audit at Deutsche Bank India. She has also held leadership positions at L&T Financial Services and PwC.Meanwhile, in July, IndusInd Bank reported a 72% year-on-year decline in net profit to ₹604 crore for the quarter ended June 2025, compared with ₹2,171 crore a year ago.
Net interest income (NII) stood at ₹4,640 crore, higher than the estimated ₹4,207 crore but down 14.2% from ₹5,408 crore in the same quarter last year. Net interest margin (NIM) improved sequentially to 3.46% from 2.25% in the March quarter, though it was lower than 4.25% a year ago.
Fresh slippages eased to ₹2,567 crore from ₹5,014 crore in the previous quarter, led by ₹2,322 crore from consumer loans and ₹245 crore from corporate accounts. Despite this, asset quality weakened as gross non-performing assets rose to 3.64% from 3.1%, while net NPAs increased to 1.12% from 0.95%. The provision coverage ratio stood at 70%.
