IndusInd International Holdings Ltd. (IIHL), Mauritius has announced the acquisition of 100% stake in Sterling Bank, Bahamas. The company said in a statement that it had earlier acquired 51% stake in September 2022, and has now completed the acquisition of the remaining 49% equity. 

The acquisition was made through IIHL’s wholly owned subsidiary, IIHL (Capital), Mauritius.

Sterling Bank will be renamed as ‘IIHL Bank & Trust Ltd.’ 

IIHL, a Mauritius-based entity with a net worth of $1.26 billion as of August 31, 2025, has a diversified investment portfolio across the Banking, Financial Services, Securities, and Insurance (BFSI) sectors. IIHL is the promoter of IndusInd Bank Ltd.

Ashok P. Hinduja, Chairman, IIHL, Mauritius, said, “This acquisition enables IIHL to expand globally, combining our decades of experience with global best practices. It strengthens our ability to deliver long-term value to our shareholders and customers. Together with our recent acquisitions, this positions us well to achieve our target of a $50 billion global market capitalisation by 2030 in the BFSI sector.”

B.R.S. Satyanarayana, Managing Director & CEO of the bank, said, “This milestone will ensure long-term sustainable growth and stability for IIHL Bank & Trust Ltd. We look forward to bringing greater value and enhanced services to our clients under the IIHL banner.”