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IndusInd International Holdings Ltd (IIHL), the Mauritius-based promoter of IndusInd Bank, has completed its acquisition of the remaining 49% stake in Sterling Bank, Bahamas, gaining full ownership. The bank will now operate as IIHL Bank & Trust Limited. With a net worth of USD 1.26 billion, IIHL has investments across the Banking, Financial Services, Securities, and Insurance sectors. The move supports its vision to become a global BFSI leader by leveraging digital technologies and cross-border financial products. IIHL's expansion also includes acquiring Reliance Capital and its subsidiaries, along with a 60% stake in Invesco Asset Management India, managing USD 14.5 billion in assets.
IndusInd International Holdings Ltd (IIHL), a Mauritius-based investment holding company and the promoter of IndusInd Bank, has announced the completion of its acquisition of the remaining 49% equity stake in Sterling Bank, Bahamas, through its wholly owned subsidiary, IIHL (Capital), Mauritius. This acquisition follows IIHL's initial purchase of a 51% stake in Sterling Bank in September 2022, resulting in full ownership of the bank. Consequently, Sterling Bank will now operate under the name IIHL Bank & Trust Limited.
IIHL, with a net worth of USD 1.26 billion as of August 31, 2025, has a diversified investment portfolio across the Banking, Financial Services, Securities, and Insurance (BFSI) sectors. The company is also the promoter of IndusInd Bank, India's fifth-largest private sector bank, which serves over 42 million customers through a nationwide network of over 6,100 touchpoints, with a business size exceeding USD 86 billion.
This acquisition aligns with IIHL's strategic vision to evolve into a global financial powerhouse within the BFSI sector. The company aims to leverage international best practices, digital financial technologies, and cross-border products to expand its global footprint and enhance its service offerings.
In addition to the Sterling Bank acquisition, IIHL has undertaken several other strategic acquisitions to strengthen its position in the BFSI ecosystem. These include the acquisition of a 100% stake in Reliance Capital Ltd. and its subsidiaries, Reliance Nippon Life Insurance, Reliance General Insurance, Reliance Health Insurance, and Reliance Securities. Furthermore, IIHL has acquired a 60% stake in Invesco Asset Management Company's India business, which manages assets worth over USD 14.5 billion. This transaction is expected to close by the end of October 2025, following regulatory approvals.
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