IndusInd Bank is in a foray to give a leap to its earnings. The bank would soon be entering the credit card segment. The bank expects a turnover of around Rs. 500 crore from the new business in its very first year.

Speaking on the issue, CEO of the bank, Paul Abraham said, "So far, our retail lending has been entirely secured. We want to move towards unsecured lending. A credit card will complete the suite of products. We expect the credit card business to pick up in the next three years and will target around Rs 500-crore business in the first year."

He said that the bank is in talks with some vendors regarding the back end solution. The bank is also harboring plans to set up an online portal which would be facilitating transactions between companies and their dealers.

The technology for the portal would be provided by IIT- Madras. "From a manufacturer to a dealer, everyone across the chain can avail themselves of credit under one umbrella. The objective is to disburse credit faster and, thereby, help us grow the loan book," Ramesh Ganesan, EVP head - transaction banking, IndusInd Bank said.

Meanwhile the bank has shown commendable performance last fiscal owing to higher margins and increased loan book. The bank has posted a net profit of Rs. Rs 97.96 crore in three months to March 2010, a 94% jump year-on-year. Total income stood at Rs 852.57 crore, a growth of 9%.

The bank's core-fee income rose by 47% to Rs 112.21 crore in the last quarter of 2009-10.

Romesh Sobti, MD & CEO, IndusInd Bank expects that the bank should be able to report a credit growth of around 25% in 2010-2011.