Accounting expires in derivative portfolio to cost Indusind Bank £ 1,960 crore in FY25

New -delhi, April 27 (PTI) Indusind Bank Sunday said the accounting expired in the derivative portfolio of the bank £ 1.960 in FY25. A bank-appointed external auditor determined the cumulative adverse accounting impact on P&L at £ 1,959.98 as on March 31, which is similar to the amount revealed on April 15, Indusind Bank said in a regulatory filing. The bank will appropriately reflect the resulting impact of the accounting contradictions in the financial statements for FY 2024-25 and take measures to strengthen internal controls accordingly, it states. The bank has already stopped internal derivative trades from April 1, 2024, it says. “The report identifies wrong accounting of internal derivative trades, especially in the case of early termination, which led to recording the profits, as the main cause of accounting difference,” the bank said. The report also investigated the roles and actions of key employees in this context, it says. The board takes the necessary steps to solve liability of the persons responsible for these dilapidated and re -aligned roles and responsibilities of senior management, he added. On April 15, Indusind Bank announced the base report of another external agency that accounting in the derivative portfolio lapses, will have a negative impact of £ 1.979 on its net worth. From December 2024, the bank has a detrimental impact (on an after-tax base) of 2.27 percent to its net worth based on the basis of contradictions regarding derivatives. The money shooter in the private sector reported last month that the accounting in the derivative portfolio has a negative impact of approximately 2.35 percent of the net worth of the bank from December 2024. First published: 28 Apr 2025, 12:37 am Ist