IndusInd Bank appoints Ganesh Sankaran as Head of Wholesale Banking Group; stock slips over 3%

IndusInd Bank Ltd has announced the appointment of Ganesh Sankaran as Head of Wholesale Banking Group, with effect from December 8, 2025 (Monday). The bank said he will be part of the Senior Management Personnel, according to a filing with BSE.

Sankaran brings over three decades of experience across wholesale banking, retail credit and SME segments. In his career, he has held senior leadership roles at major private sector lenders, including Axis Bank, Federal Bank and HDFC Bank.

His professional background includes building business verticals, driving large-scale business transformations, and managing credit, risk and product functions, along with board-level responsibilities.

He has served on the boards of Axis Capital, Equirus Capital and Fedbank Financial Services. He also served as Executive Director and board member at Federal Bank.

In a separate development, the private lender issued a clarification on a news report titled "Hindujas looking for strategic partner in IndusInd Bank, but will not dilute stake", stating that no discussions are underway to onboard any strategic partner and that the bank remains well-capitalised and aligned with its strategic roadmap.

Meanwhile, shares of IndusInd Bank closed 3.30 per cent lower at Rs 841.25 on Monday.