ISELIN–Indus American Bank was recently honored by NJBIZ at an awards ceremony held at The Palace in Somerset Park on Monday, Nov. 16. The bank was selected as one of the top 50 New Jersey businesses that have made significant contributions to the growth, strength and success of New Jersey.
Eligible companies must be for-profit entities headquartered in New Jersey. In order to be eligible for nomination, companies needed to show revenue of at least $500,000 in 2005, 2006, 2007 and 2008 and show greater revenue growth in 2008 than in 2005 (a four-year period).
Presenting sponsor, Rothstein Kass, calculated the nominations and then ranked the companies according to revenue growth over the four-year period of 2005 to 2008. Both dollar and percentage increases were taken into consideration in order to recognize and honor both large and small companies.
In addition to the awards ceremony, the Top 50 Fastest Growing Companies will be profiled in a special supplement in the Nov. 23 issue of NJBIZ. The complete list of honorees will be published in ranked order, along with information on each company’s financial growth.
“It is a great honor to be selected by NJBIZ as one of the top 50 fastest growing companies in New Jersey,” says Kevin Lenihan, President & CEO of Indus American Bank. “We would like to thank NJBIZ and also thank our wonderful customers for helping Indus American Bank continue to grow and thrive in these difficult economic times.”
Indus American Bank was founded in 2005 in Iselin, to offer high quality financial products and personalized service to South Asian American individuals and business owners. Indus American Bank specializes in core banking products for small to medium-sized companies, with an emphasis on real estate-based lending, as well as traditional banking products.
Indus American Bank was recently selected by NJBIZ as one of New Jersey’s Top 50 Fastest Growing Companies. Indus executives that attended the awards ceremony are (left to right): Timothy Doyle, Sr. VP, Chief Loan Officer; Kevin Lenihan, President & CEO; Bipin Patel, Chairman of the Board; Hemant Merchandani, VP, Compliance & BSA Officer; and Larry Kneip, VP, SBA Specialist.
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