IndusInd International Holdings ( IIHL ), Mauritius, which had previously acquired a 51% stake in the Sterling Bank, Bahamas, in September 2022, has acquired remaining 49% equity in the bank. IIHL is the promoter of IndusInd Bank.

The acquisition was made through IIHL’s wholly owned subsidiary, IIHL (Capital), Mauritius, according to a press release. Followed by the acquisition, Sterling Bank will be renamed as “IIHL Bank & Trust Limited.”

What did IIHL say?

“The acquisition of Sterling Bank & Trust Limited forms part of IIHL’s broader strategy to evolve into a global financial powerhouse within the BFSI sector. IIHL Mauritius also aims to introduce advanced financial technologies and international market products to better serve its customers,” the company said in the press release.

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