Induslnd Bank has entered into an agreement with Royal Bank of Scotland N.V. (RBS) to acquire its Diamond and Jewellery financing business in India and related deposit portfolio; subject to regulatory approval. This is part of ABN AMRO Bank 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 4,500 crore in size.
Until ownership of the loans transfer to Induslnd Bank, the day to day management of the loan portfolio will remain with Royal Bank of Scotland N.V. Employees within Diamond and Jewellery Clients in India will also move to Induslnd Bank and will ensure seamless transition of the customer base.
Induslnd Bank specializes in the Diamond and Jewellery financing business and this acquisition will enhance its position. Several members of Induslnd Bank’s senior management had been associated with this portfolio in Royal Bank of Scotland N.V. and prior to that in ABN AMRO Bank N.V.
| Company Name | CMP |
|---|---|
| HDFC Bank | 799.90 |
| ICICI Bank | 1347.50 |
| Axis Bank | 1359.15 |
| Kotak Mahindra Bank | 383.50 |
| Indusind Bank | 853.15 |
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