New Delhi, May 21 -- IndusInd Bank reported its first quarterly loss in at least 18 years on Wednesday and said that it suspects that some employees had engaged in fraud that led to accounting lapses, which weighed on its results.

IndusInd, India's fifth-biggest private lender by assets, disclosed in March that years of incorrect accounting of internal derivative trades led to a $230 million hit to its accounts for the financial year ended March 31.

Its CEO, Sumant Kathpalia, and deputy, Arun Khurana, stepped down last month.

Separately, earlier this month, it flagged that an internal audit of its microfinance business found that a sum of around $80 million was incorrectly recorded as interest over three quarters of fiscal year 2025, a...