The Telegraph
Since 1st March, 1999
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IndusInd Bank spots growth strategies

Mumbai, Aug. 27 (PTI): Pune-based IndusInd Bank Ltd has identified several growth strategies, including acquiring retail loan portfolios, buying over branches from other banks and relaunching retail products.

“We are currently in advanced stages of discussions with two to three non-banking finance companies (NBFCs) to acquire their retail loan portfolios,” IndusInd bank managing director Bhaskar Ghose told newspersons after the launch of the bank’s enhanced internet banking service Indusnet here today.

On acquisition of corporate portfolios, he said the bank had already purchased loans worth Rs 1,000 crore from ICICI in March and about Rs 500-600 crore from two to three banks, which faced some problems with capital adequacy ratio.

For the acquisition of branches, the managing director said the bank was in talks with a number of private and foreign banks.

With licences now being granted faster, some of these discussions may not proceed ahead as foreign banks were seeking a much higher price.

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