PwC Flags ₹19.79 Billion Hit To IndusInd Bank From Derivatives Discrepancies

IndusInd Bank on Tuesday said that PricewaterhouseCoopers, the agency appointed to review its derivatives portfolio accounting, has quantified a negative impact of ₹19.79 billion as of June 30, due to discrepancies in the portfolio. The issue was first disclosed on March 10.

Based on PwC’s report, the bank has assessed a 2.27% hit to its net worth as of December. In an exchange filing, it stated that the impact will be reflected in its financial statements for 2024-25, and that it will continue strengthening internal controls related to its derivatives accounting operations.

Previously,  the bank’s internal assessment had estimated a nearly 2.35% adverse impact on its net worth as of December 31.