IndusInd Bank expands horizon in diamond & jewellery financing

Published on April 10, 2015 11:54:19 AM
Business
IndusInd Bank has signed an agreement to acquire diamond & jewellery financing business of RBS in India, which is a part of ABN AMRO Bank N V’s diamond and jewellery client.

Concurrently, IndusInd bank also signed a partnership agreement with ABN AMRO Bank for cooperation in diamond & jewellery financing.

The financing loan book of RBS N V diamond & jewellery is approximately Rs 45 billion in size.

The day-to-day management of loan portfolio will handled by RBS, until ownership of the loans are transferred to IndusInd bank.

This deal is subject to regulatory approvals.