IndusInd Bank implements its core banking system to Finacle 10.2 version

30 Jan 2013 Evaluate

IndusInd Bank has transformed its core banking system by replacing its existing core banking system with state of-the-art Finacle 10.2 in all 461 branches end 852 ATMs with zero post go-live performance and scalability issues.

The biggest challenge was to 'go live' on a single day across the country without any business disruption. However, Avekshaa Technologies which specializes in de-risking complex IT projects, played an important role in ensuring that the issues across the technology stack were identified end mitigated well in advance.

The bank has reported 29.77% rise in its net profit at Rs 267.27 crore for the quarter as compared to Rs 205.96 crore for the same quarter in the previous year. Total income of the bank has increased by 30.30% at Rs 2156.29 crore for quarter under review as compared to Rs 1654.86 crore for the quarter ended December 31, 2011.

The bank’s gross NPA for the December 31, 2012 quarter of the current fiscal stood at 0.99%, as compared to 1.02% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 0.30% as compared to 0.29% in the same quarter of the previous year.

Indusind Bank Share Price

944.70 14.70 (1.58%)
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HDFC Bank 1801.00
ICICI Bank 1296.40
Axis Bank 1079.20
Kotak Mahindra Bank 1744.90
Indusind Bank 944.70
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