IndusInd Bank completes acquisition of Royal Bank of Scotland’s Diamond & Jewellery Financing business in IndiaEstimated reading time: 2 minutes

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

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For more details on this release, please contact:

Mohit Ganju
IndusInd Bank Ltd.

Mohit.ganju@indusind.com/
0124-4749500
Namita Sharma
Adfactors PR Pvt. Ltd.
Namita.sharma@adfactorspr.com
9820950663

Disclaimer-
“This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended or an exemption from such registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or the selling security holder and that will contain detailed information about the bank and management, as well as financial statements.”