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Hinduja acquires Swiss bank

Press Trust of India  |  New Delhi 

today said it has acquired (BCL), which will be merged with its subsidiary (Switzerland).

"The latest acquisition adds the third key financial centre in Switzerland, Lugano, to the HBS network, as well as a fully-licenced bank in the Cayman Islands," the holding company said in a statement.

The statement did not give any details of the acquisition, including the deal value.

HBS offers a range of services like wealth management, trade finance, investment solutions and corporate

"In this acquisition we saw businesses that were aligned with our growth strategy," and Hinduja Group Chairman Srichand P Hinduja.

The BCL specialises in private banking and trade finance, the statement said.

First Published: Wed, February 17 2010. 22:26 IST