IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, has finalized the acquisition of a 100% stake in Sterling Bank, a financial institution based in the Bahamas.
This move follows IIHL’s initial purchase of a 51% equity interest in Sterling Bank in September 2022 through its wholly owned subsidiary, IIHL (Capital), Mauritius. The remaining 49% was acquired in a subsequent transaction, culminating in full ownership.
In conjunction with the acquisition, Sterling Bank has been renamed IIHL Bank & Trust Limited. This rebranding aligns with IIHL’s strategic objective to establish a global financial presence, particularly in the Caribbean region.
The acquisition is expected to enhance IIHL’s footprint in international banking markets and diversify its portfolio within the Banking, Financial Services, Securities, and Insurance (BFSI) sectors.
As of August 31, 2025, IIHL reported a net worth of $1.26 billion. The entity serves over 42 million customers through a network exceeding 6,100 touchpoints, with a business size surpassing $86 billion.
The acquisition of Sterling Bank is part of IIHL’s broader strategy to expand its global operations and achieve a market capitalization target of $50 billion by 2030.
The transaction is anticipated to close by the end of October 2025, pending regulatory approvals.
This acquisition underscores IIHL’s commitment to leveraging international best practices and digital financial technologies to strengthen its position in the global financial services industry.
IndusInd Bank, headquartered in Mumbai, is India’s fifth-largest private sector lender, offering a range of banking services to a diverse customer base.
The completion of this acquisition marks a significant step in IIHL’s vision to build a global financial powerhouse, combining decades of experience with global best practices to deliver long-term value to shareholders and customers.
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