IndusInd Bank engaged with analysts and institutional investors on May 26, 2026, in Hong Kong during the UBS Asian Investment Conference 2026. The meeting was conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and served as a platform for the bank to interact with key stakeholders. The bank clarified that no unpublished price sensitive information was shared or discussed during the meet. Discussions were based on publicly available documents, and a copy of the presentation used during the interaction has been made available on the bank's website.

Participants at the Meet

The intimation regarding this meet was submitted by Anand Kumar Das, Company Secretary of IndusInd Bank .

Citi has maintained its Sell rating on IndusInd Bank with a target price of ₹800, while acknowledging the bank's articulated roadmap aimed at restoring profitability metrics over the coming years. The brokerage's stance reflects a cautious outlook even as the bank charts a path toward improved financial performance.

RoA Improvement Roadmap

At the core of IndusInd Bank's recovery strategy is a phased improvement in Return on Assets (RoA). The bank has outlined targets to lift RoA to approximately 1% by FY27-end, with a further medium-term aspiration of reaching approximately 1.5%. The key details of this roadmap are summarised below:

Key Drivers of Recovery

Citi identified three primary levers underpinning the bank's profitability improvement plan:

• Lower credit costs: A reduction in provisioning requirements is expected to provide a meaningful boost to bottom-line performance.
• Stronger fee income: Growth in non-interest income streams is anticipated to contribute to overall revenue improvement.
• Operating expense (opex) leverage: Greater efficiency in cost management is projected to support margin expansion over time.

Balance Sheet Right-Sizing and Growth Pivot

Citi also noted that IndusInd Bank has undertaken a process of balance sheet right-sizing, which the brokerage acknowledged has positioned the bank to pivot toward growth. Importantly, this recalibration has been achieved without creating near-term capital requirements, suggesting the bank retains adequate capital buffers to support its forward strategy.

Despite recognising these structural improvements and the bank's recovery roadmap, Citi has retained its Sell rating with the ₹800 target price, indicating that the brokerage views the current valuation as not yet reflecting sufficient risk-adjusted upside.