FINANCEOUTLOOKINDIA8 OCTOBER, 2025INDUSIND BANK PROMOTER SECURES 100% ACQUISITION OF STERLING BANKIndusInd Bank's promoter, Mauritius-based IndusInd International Holdings Ltd (IIHL), has completed the acquisition of the remaining 49% stake in Sterling Bank, Bahamas, bringing its ownership to 100%. The transaction was carried out by IIHL's wholly owned subsidiary, IIHL (Capital) MauritiusFollowing the acquisition, the bank was renamed IIHL Bank & Trust Limited, representing a strategic shift in IIHL's quest to become a global financial powerhouse in the Banking, Financial Services, Securities, and Insurance (BFSI) sector.IIHL, which first acquired a 51% stake in Sterling Bank in September 2022, had a net worth of $1.26 billion as of August 31, 2025. The Mauritius-based company is the primary promoter of IndusInd Bank, India's fifth-largest private sector bank, with over 42 million customers served through more than 6,100 touchpoints and a business value exceeding $86 billion.IIHL has recently made a number of strategic acquisitions to strengthen its position in India's BFSI sector. These include the 100% acquisition of Reliance Capital Ltd., as well as key subsidiaries and associates. The company also acquired a 60% stake in Invesco Asset Management Company's India business, which manages over $14.5 billion in assets. Regulatory clearances are in place, and the transaction is expected to close by the end of October 2025.Ashok P Hinduja, Chairman of IIHL, commented on the development, saying: "This acquisition enables IIHL to expand globally by combining our decades of experience with global best practices. It improves our ability to create long-term value for our shareholders and customers. With our recent acquisitions, we are well positioned to meet our target of a US$50 billion global market capitalization in the BFSI sector by 2030."BRS Satyanarayana, Managing Director & CEO of IIHL Bank & Trust Limited, stated, "This milestone will ensure IIHL Bank & Trust's long-term sustainable growth and stability." We look forward to providing more value and better services to our clients under the IIHL banner."REPORTBy Finance Outlook India Team· IndusInd Bank promoter IIHL Mauritius acquires full ownership of Bahamas-based Sterling Bank, renaming it IIHL Bank & Trust.· The acquisition marks a strategic move by IIHL to expand its global footprint in the BFSI sector.· Key Highlights
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