IndusInd Bank

July 27, 2021

National Stock Exchange of India Ltd. (Symbol: INDUSINDBK)

BSE Ltd. (Scrip Code: 532187)

India International Exchange (Scrip Code: 1100027)

Madam / Dear Sir,

Sub: Press Release - Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2021

In compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a copy of the Press Release titled 'IndusInd Bank Limited Announces Financial Results for the Quarter ended June 30, 2021' July 27, 2021' is annexed with this letter.

We request you to kindly take the above on record.

A copy of the Press Release is being uploaded on the website of the Bank at www.indusind.com

Thanking you,

Yours faithfully, For IndusInd Bank Ltd.

Haresh Gajwani Company Secretary

$Encl: a/a$

$C_{\mathbb{C}}$ : Singapore Stock Exchange Luxembourg Stock Exchange

IndusInd Bank Limited, Building No. 7, Solitaire Corporate Park, Andheri-Ghatkopar Link Road, Chakala, Andheri E, Mumbai - 400 093, India. Tel: (0022) 66412200

Registered Office: 2401 Gen. Thimmayya Road, Pune 411 001, India Tel.: (020) 2634 3201 Fax: (020) 2634 3241 Visit us at www.indusind.com CIN: L65191PN1994PLC076333

lnduslnd Bank

PRESS RELEASE

Induslnd Bank Limited Announces Financial Results for the Quarter ended trllne 30 , 2021

Key Highlights

o consolidated Net Profit for Q1FY22 at Rs.l,016 crores up by 99% from Rs.510 crores in QlFYZl
o Despite covid-19 second wave, NIM steady at 4.06%, Net NPA stable at 0.84% and Ro A at 1.l1oh for QlFY22
o Robist growh in Deposits, up by 26% YoY to Rs'2,67'233 crores in QIFY22 from Rs 2,1 I '265 oores, Saving Deposit gew by 52% YoY to Rs. 79,928 crores flom Rs52,527 crores
o CnAi for eirVi2 upit 17.i7% (includins PAT at 17.89%) as against 15.16% for QlFY2l and at 17.38oh for Q4FYZI

The Board of Directors of Induslnd Bank Limited approved the Bank's results for the quarter ended June 30, 2021, at their meeting held in Mumbai on Tuesday, July 27 ' 202-'

NIM at 4.06%, Net NPAS at 0.84%, Provision coverage raio at72Yo, Capital adequacy ratio (CRAR) at 17.57% andLiq:idtty coverage Ratio at 1467o underscore the stength ofoPerating performance, resilient liquidity buffers and adequacy of capital.

Consolidated Financial Results

The Bank,s consolidated hnancial results include the financial results of its wholly owned subsidiary, Bharat Financial Inclusion Limited (BFIL), a business correspondent (Bc) of the Bank involved in onginating small ticket MFI loans, for the Bank.

Profit & Irss Account for the Quader cnded June 30' 2021

During the quarter, the country was hit by a "second wave" of COVID'I9, with a significant surge. in Lra, t?lo*ittg ttta spread ofmutant coronavirus strains leading to business activities remaining curtailed ioiirt" -o"trrr'of ejril and May. The second wave started to subside frorn June 2021 onwards following which there has been a gradual iifting oflockdowns, resulting in an increase in economic activity.

pre Provision operating Profit (PPOP) at Rs.3,185 crores for the quarter ended June 30, 2021 grew by 9% over the corrlsponding quarter ofprevious year at Rs.2,928 crores. PPOP/Assets ratio for the quarter ended June 30, 2021 stood at 3'67% compared to 3.68% a quarter ago'

Net Interest Income for the quarter ended June 30,2021 at Rs.3,564 crores, up by -8%.from Rs.3,309 crores for the quarter ended June 30, 2020.Net Interest.Margin for Ql FY22 stood at 406% -no-AiA % fo. ql Fy2i due to lower credit offtake ard surplus liquidity placed under repo with RBI'

FeeincomeatRs.l'TS8croresforthequarterendedJune30'202lasagainstRs.l,520croresfortlle corresponding quarter of previous year.

Operating expenses for the quarter ended June 30' 2021 were Rs' 2,166 crores as against Rs l '902 crores for the quarter ended June 30, 2020.

Induslnd Bank

Balance Sheet as on June 30, 2021

Balance Sheet footage as on June 30, 2021 was Pls.3,72,996 crores as against Rs.3,17,916 crores as of June 30, 2020, a gowth of 17o/o.

Deposits as on June 30,2021 were Rs.2,67,233 crores as against Rs.2,11,265 crores, an increase of 26% over June 30,2020. CASA deposits increased to Rs.1,12,349 crores with Current account deposits at Rs. 32,422 crores and Saving account deposits at Rs.79,927 uores. CASA deposits comprised of42% of total deposits as of June 30,2021.

Advances as on June 30,2021 were Rs.2,10,727 crores as against Rs.1,98,069 crores in June 30,2020.

Asset Quality

The loan book quality was stable. Gross non-performing assets were at 2.88% of gross advances as on hne 30,2021 as against2.67o/o as on March 31, 2021 and 2.53 % as on June 30, 2020. Net non-performing assets were 0.84% ofnet advances as on June 30,2021 as compared to 0.690/0 on March 31, 2021 and 0.86 % on June 30, 2020.

The Bank strengthened its Balance Sheet by increasing Provision Coverage Ratio to 72o/o in June 2021 from 670/o in J.u'ne 2020. Provisions and contingencies for the quarter ended June 30,2021were Rs.2,169 crores (comprising ofprovision for credit and other losses at Rs.1,844 crores and towards taxes on income at Rs.325 crores) as compared to Rs.2,417 crores (comprising of provision for credit and other losses at Rs2,259 crore and towards taxes on income at Rs.l58 crore) for the corresponding quarter of previous year 2020-21.

Net Profit

Consolidated Net Profit for the quarter ended June 30, 2021 was Rs 1,016 crores as compared to Rs. 510 crores during corresponding quarter ofprevious year up by 99%YoY.

Capital Adequacy

The Bank's Total Capital Adequacy Ratio as per Basel III guidelines improved to 17.57% (including PAT at 17.89%) as on June 30,2021, as compared to 15.16010 as onJune 30,2020. Tier I CRAR was ar 16.g770 as of June 30,2021 compared to 14.49% as of June 30, 2020. Risk-weighted Assets were at F.s.2,72,367 crores (as against Rs.2,61,722 crores as at June 30, 2020).

Network

As of June 30, 2021, the Bank's distribution network included 2,015 branches and banking outlets and 2,870 onsite and offsite ATMS across 760 geographic locations, as against l,9l I branches and banking oudets and 2,721 onsite and offsite ATMs across 751 geographic locations as of June 30, 2020. The extended Network ofthe Bant includes branches ofBFIL and outlets ofIMFS. The number ofemplovees were at 30,024 as of June 30,2021 as against 30,331 as ofJune 30,2020. The client base stood ai 29 million as on June 30,2021.

Commenting on the performance, Mr. Sumant Kathpalia, Managing Director & cEo, Induslnd Bank said: "The first quarter of this financial year witnessed spread and subsequent containment of covid second wave across the country. The economy once again showed resilience with higher activity levels compared to the first wave, supported by effective fiscal and monetary support. Induslnd Bank also responded well to the changing situation with smooth cli€nt sen icing. The Bank conducted nationwide vaccination drives to inoculate our employee base. The Bank witnessed strong growth in its deposit base (up 26% YoY) driven by GASA (up 33% yoy). The Bank was cautious in theloan gowth 1up 3%; given

Induslnd Bank

the challenging operating environment. Our Pre-Provision Operating Profits was strong at Rs 3'185 crores. The Banl< lias followed consewative provisioning approach with Net NPA of0.84% and a surplus provision of Rs 2,050 crores outside this for contingencies if any. We expect the economic recovery to gain traction as the second wave recedes coupled with the ongoing vaccination drive. The Bank is well positioned to cautiously participate in the economic recovery."

About Induslnd Bank

Induslnd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customels. Its technology platform suppons multi-channel delivery capabilities. As on June.30, 20i1, Induslnd Bank has Branches 2,015/ Banking Outlet and 2,870 ATMs spread across geosraghrgal locations ofthe country. The Bank also has representative ofEces in London, Dubai and Abu Dhabi. The Bank believes in driving its business through technology. It enjoys clearing bank status for both malor stock exchanges - BSE and NSE - and mijor commodity exchanges in the country, including MCX, NCDEX and NMCE. Induslnd Bank was included in the NIFTY 50 benchmark index on April 1,2013.

RATING

Domestic Rating:

. CzuSIL AA + for Infra Bonds program
. CRISIL AA for Additional Tier I Bonds program
. CRISIL A 1 + for certificate of deposit program / short term FD programme
. IND A,A+ for Senior bonds program by India Ratings and Research
. IND AA for Additional Tier I Bonds program by India Ratings and Research
. IND Al + for Short Term Debt Instruments by India Ratings and Research

International Ratitrg:

. Bal for Senior Unsecured MTN programme by Moody's Investors Service

Visit us at www.indusind.com Twitter- @MylnduslndBank Facebooli- httos: //www. facebook.com/OfliciallnduslndBankPage/

For more details on this release, please contact:

Anu Raj Induslnd Bank Ltd. 9930990927 [email protected], Saksham Maheshwari Adfactors PR Pvt. Ltd.

saksham. maheshwari@adfastorsPr. com

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IndusInd Bank Ltd. Interim / Quarterly Report 2022