Today, ABN AMRO announces the transfer of the diamond and jewellery activities in India to IndusInd Bank Limited. These activities were conducted under cohabitation with Royal Bank of Scotland in India.
IndusInd Bank offers an excellent platform for the 274 client relationships as well as the front office staff that transfers to them. Especially since IndusInd Bank targets to grow these activities in India.
Furthermore, ABN AMRO and IndusInd Bank agreed to enter into a partner banking agreement to continue to cooperate in diamond and jewellery activities in this important country.
The transfer is subject to conditions being met, including approval by authorities.