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IndusInd Bank Acquires Diamond Loan Portfolio Held by RBS
Jul 28, 2015 3:34 AM
By Ronen Shnidman
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RAPAPORT... IndusInd Bank announced Monday that it had completed its acquisition of the diamond and jewelry financing business of Royal Bank of Scotland (RBS) in India. RBS managed a diamond and jewelry business loan portfolio valued at $640 million (INR 41 billion).
- As of June 30, 2015 IndusInd Bank had 811 branches across India and representative offices in London, Dubai and Abu Dhabi.
- The deal was originally announced on April 10 this year.
- The RBS diamond and jewelry financing business in India was originally part of diamond lending bank ABN AMRO, which was acquired by a consortium of banks, led by RBS, in 2007. ABN AMRO’s India operations were rebranded under the RBS name in 2010.
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Tags:
ABN Amro, diamond loan, IndusInd Bank, loan book, loan portfolio, Ronen Shnidman, Royal Bank of Scotland
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