IndusInd Bank completes acquisition of Royal Bank of Scotland’s Diamond & Jewellery Financing business in India
Posted on Monday, July 27th, 2015 | By IndusInd Bank
Mumbai, July 27, 2015: On April 10, 2015, IndusInd Bank had announced that the Bank entered into an agreement to acquire the Diamond & Jewellery financing business and related deposit portfolio of Royal Bank of Scotland N.V. in India subject to regulatory approval. IndusInd Bank has completed the acquisition with the entire business portfolio migrating to the Bank. The acquired loan portfolio is approximately Rs.41 billion.
About IndusInd Bank
IndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel distribution network. As on June 30, 2015, IndusInd Bank has 811 branches and 1,543 ATMs spread across the country. The Bank also has representative offices in London, Dubai and Abu Dhabi. It enjoys clearing bank status for both major stock exchanges -BSE and NSE -and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank is ranked 19th amongst the Top 50 Most Valuable Indian Brands 2014 as per the BrandZ Top 50 rankings a study published by the WPP and conducted by Millward Brown.
Ratings:
- ICRA AA+ for Lower Tier II subordinate debt program by ICRA
- ICRA AA for Upper Tier II subordinate debt program by ICRA
- CRISIL A1+ for certificate of deposit program by CR ISIL
- CARE AA+ for Lower Tier II subordinate debt program by CARE
- IND A1+ for Short Term Debt Instruments by India Ratings and Research
- IND AA+ for Lower Tier II subordinate debt program by India Ratings and Research
- IND AA for Upper Tier II subordinate debt program by India Ratings and Research
- IND AA+ for Senior unsecured bonds program by India Ratings and Research
Twitter- @MyIndusIndBank
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For more details on this release, please contact: | ||
Mohit Ganju | Namita Sharma | |
IndusInd Bank Ltd. | Adfactors PR Pvt. Ltd. | |
Mohit.ganju@indusind.com/ 0124-4749500 | Namita.sharma@adfactorspr.com 9820950663 |