IndusInd Bank , a leading private sector bank in India, has announced a significant addition to its senior management team. Effective December 8, 2025, Mr. Ganesh Sankaran will join the bank as the Head of the Wholesale Banking Group and will be part of the Senior Management Personnel.

Key Appointment Details

Sankaran's Professional Background

Mr. Sankaran brings a wealth of experience to his new role at IndusInd Bank:

• Over three decades of experience in the banking sector
• Expertise across Wholesale, Retail Credit, and SME segments
• Held senior leadership positions at prominent private sector banks

Previous Roles and Achievements

Mr. Sankaran's impressive career includes:

Throughout his career, Mr. Sankaran has demonstrated prowess in:

• Building businesses
• Driving large-scale business transformations
• Delivering consistent performance

His expertise extends to relationship management, credit and risk assessment, and product knowledge. Notably, Mr. Sankaran has also served on the boards of Axis Capital, Equirus Capital, and Fedbank Financial Services, showcasing his broad understanding of the financial services sector.

Implications for IndusInd Bank

The appointment of Ganesh Sankaran as the Head of Wholesale Banking Group is a strategic move for IndusInd Bank. His extensive experience and proven track record in the banking sector, particularly in wholesale banking, are likely to contribute significantly to the bank's growth strategies and operational excellence in this crucial segment.

This appointment aligns with IndusInd Bank's commitment to strengthening its leadership team with industry veterans who can drive innovation and growth in key business areas. Mr. Sankaran's diverse experience across various banking segments positions him well to lead the Wholesale Banking Group and potentially contribute to the bank's overall strategic direction.

As the banking sector continues to evolve, especially in the wholesale banking space, Mr. Sankaran's insights and leadership will be valuable for IndusInd Bank in navigating market challenges and capitalizing on new opportunities.

Conclusion

The appointment of Ganesh Sankaran marks a significant development for IndusInd Bank's Wholesale Banking Group. With his rich experience and proven leadership in the banking sector, Mr. Sankaran is well-positioned to drive growth and innovation in this critical business segment. As he assumes his new role, the banking industry will be watching closely to see how his expertise shapes IndusInd Bank's strategies and performance in the wholesale banking arena.

Indusind Bank has officially denied recent media reports suggesting plans to raise $1 billion through a Qualified Institutional Placement (QIP). The bank has categorically refuted any ongoing discussions or plans related to capital raising activities.

Official Clarification

In response to news articles published on November 21, 2025, in prominent financial media outlets, IndusInd Bank issued a clarification to the stock exchanges. The bank stated:

"We categorically deny having any such discussions as reported in aforesaid media reports. Any such news regarding capital raising are speculative and factually inaccurate."

Regulatory Compliance

IndusInd Bank emphasized its commitment to regulatory compliance, specifically mentioning Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank assured stakeholders of its continued adherence to these disclosure obligations.

Recent Investor Interactions

While denying the capital raising rumors, IndusInd Bank disclosed that it has been actively engaging with the investment community. On November 20, 2025, the bank participated in the Morgan Stanley Twenty-Fourth Annual Asia Pacific Summit in Singapore. During this event, the bank held one-to-one and group meetings with various institutional investors and asset management firms.

Investor Meeting Participants

The bank disclosed a list of participants in the recent investor meet, which included prominent names in the financial sector:

IndusInd Bank assured that no unpublished price-sensitive information was shared or discussed during these meetings, and all discussions were based on publicly available documents.

The bank's swift denial of the capital raising rumors and its transparent communication about investor meetings demonstrate its commitment to maintaining clear and accurate information flow to the market. Investors are advised to rely on official communications from the bank for accurate information about its financial strategies and plans.