Private sector lender, IndusInd Bank has presented its roadmap to the Reserve Bank, to bring down the promoter stake to the mandatory 10 per cent over the next 2-3 years, its CEO said.
"The bank has given its roadmap to the RBI on the matter. During this timeframe, the promoter holding will be brought down to the manadatory 10 per cent," IndusInd Bank's Managing Director & CEO, Ramesh Sobti told reporters here.
The holding will automatically come down as and when the lender make equity issuances over the next 2-3 years, Sobti said. As per the central bank guidelines on ownership in private sector banks, no entity or group can hold over 10 per cent stake in a private sector bank. Presently, promoters hold 22.2 per cent stake in IndusInd bank.
The lender, during the financial year 2009-10, expects its loanbook to grow by 25-30 per cent, while the consumer finance book alone is likely to grow by 20 per cent, Sobti said. With inflation inching up, the central bank is expected to opt for a 'twin' action by hiking its cash reserve ratio (CRR) and policy rates by next month, Sobti said.
"A twin action (on CRR and policy rates) is likely by next month. But let's not speculate on whether this will happen before the policy," Sobti said. The bank today inaugurated Mumbai's first solar- powered ATM as part of its green office project campaign 'Hum aur Hariyali’.
The bank's new Solar ATM replaces the use of conventional energy for 8 hours per day with eco friendly and renewable solar energy, Sobti said. The energy saved will be 1980 kW hrs every year and will be accompanied by a simultaneous reduction in CO2 emissions by 1942 kgs.
IndusInd Bank has a network of 186 branches, 412 ATMs spread pan-India.
