IndusInd Bank to acquire Royal Bank of Scotland's Diamond & Jewellery Financing business

In India

IndusInd Bank announced that it has entered into an agreement with Royal Bank of Scotland N.V. to acquire its Diamond and Jewellery financing business in India and related deposit portfolio; subject to regulatory approval. This is part of the ABN AMRO N.V.'s Diamond & Jewellery Clients that is housed in Royal Bank of Scotland N.V. acting through its Mumbai branch in India. The Royal Bank of Scotland N.V. Diamond and Jewellery financing loan book is approximately Rs 45 million in size.

Until ownership of the loans transfer to IndusInd Bank, day to day management of the loan portfolio will remain with Royal Bank of Scotland N.V.

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