IndusInd Bank has agreed to acquire Deutsche Bank’s loss-making credit card business in the country. Both the banks did not disclose the financial details of the deal. Under the agreement, IndusInd will get access to close to 200,000 card customers of the German bank and the entire operating platform of the cards franchise, including talent and technology.
The deal marks the entry of IndusInd into the credit card area, which it hopes will significantly enhance its bouquet of offerings and thereby expand the range of its customer-centric products. IndusInd Bank commenced its operations in 1994 and caters to the needs of both individual consumers and corporate through 192 branches. The bank also has two representative offices, one each in London and Dubai.crackcrack
