IndusInd To Buy RBS' Diamond Financing Business

Finance and Trade
10/04/2015 12:27

IndusInd Bank has struck a deal with Royal Bank of Scotland N V to acquire its diamond and jewellery financing business in India and related deposit portfolio; subject to approval from Reserve Bank of India. "We like this business and have a deep insight into the industry. We are also happy to reach a Partnership Agreement with ABN AMRO Bank N V, one of the oldest banks in Diamond and Jewellery financing," said Romesh Sobti, MD & CEO, IndusInd Bank.