The bank has entered into a partial guarantee programme with ADB with an initial outlay of $70 million (Rs 560 crore), exclusively towards promoting Supply Chain Finance solutions in India.

IndusInd Bank said that it aims to grow its presence in micro, small & medium enterprises (MSME) financing and this partnership will further strengthen various initiatives of the bank in this domain. With SCF being a focus area, the bank has initiated a host of strategic efforts including the launch of new product structures for SCF.

In addition to this, the bank recently launched a state-of-the-art digital portal for SCF – ‘earlyCredit' enabling 24*7 seamless processing of SCF transactions for corporates, suppliers & dealers.

Commenting on the partnership Amitabh Saraff, Head - Financial Services, SME Business & SCF, said “At IndusInd Bank, we look forward to funding the entire ecosystem of a corporate entity by offering holistic SCF solutions, meeting end-to-end requirements of both corporate and their dealers/suppliers thereby being a true partner in their growth trajectory. Partnership with a global organisation like ADB strengthens our SCF platform, a leading provider in the country. This association will further open up opportunities for the Bank to innovate and empower our clients with the best financing solutions.”

IndusInd Bank caters to both consumer and corporate customers. As of 30 June 2022, the bank's distribution network included 2,286 branches/banking outlets and 2,783 onsite and offsite ATMs.

The bank reported 64% rise in standalone net profit to Rs 1,603 crore on a 9% increase in total income to Rs 10,110 crore in Q1 FY23 over Q1 FY22.

Shares of IndusInd Bank were down 1.07% to Rs 1,099.15 on the BSE.