IndusInd promoter IIHL Mauritius acquires full ownership of Bahamas-based Sterling Bank
Indusind International Holdings Ltd (IIHL), Mauritius, Indusind Bank’s supporter– Bahamas -based Sterling Bank announced that it received 100% shares.
The acquisition was completed in two stages with IIHL’s subsidiary IIHL (Capital), Mauritius. In September 2022, IIHL acquired 51% share in the bank and now purchased the remaining 49% Özkaynak.
According to a company statement, IIHL is now renamed IIHL Bank & Trust Limited, while IIHL has now been renamed.
IIHL financial
As of August 31, 2025, Mauritius -based IIHL, which has a net $ 1.26 billion, has investments in banking, financial services, securities and insurance (BFSI) sectors. India’s fifth largest private sector is the supporter of Indusind Bank, which provides more than 42 million customers through a country -wide network with more than 6,100 contact points, exceeding $ 86 billion.
In recent months, IIHL has completed a series of acquisitions in India to strengthen its position in the field of BFSI. Among them, Reliance Capital Ltd. and its subsidiaries, RelANCE Nippon Life Insurance, Trust General Insurance, Reliance Health Insurance and Reliance Menkul Assets.
In addition, IIHL acquired 60% share in India’s Indian business, Invesco Asset Management Company, which directed over $ 14.5 billion. The press release said that regulatory approvals are in force and the transaction is expected to be closed until the end of October 2025.
What does the purchase mean for the company?
The acquisition of Sterling Bank & Trust is taking a big step in IIHL’s strategy of transforming into a global financial power center. The company also aims to introduce digital financial technologies and international products to provide better service to its customers.
Speaking about the development, Mauritius IIHL President Ashok P. Hinduja said, “This purchasing enables IIHL to combine our decades of global best practices with its decades of best practices. Recently, it strengthens our ability to offer long -term value with our purchases. This is good with an invoice capital of $ 2030.
Bank General Manager and CEO of the Bank Brs Satyanarayana said, “This mileage will provide long -term sustainable growth and stability for IIHL Bank & Trust Limited. We look forward to bringing more values and advanced services to our customers under the flag of IIHL.”
