IndusInd Bank has acquired the microfinance portfolio worth Rs 100 crore from SKS Mircofinance through the allotment of agriculture advances. The private sector bank is expected to take the balance Rs 50 crore micro-finance portfolio on its books in February 2009.
This transaction will help the private sector bank to foray into agri products as well as microfinance.
“The transaction allows our bank to diversify our asset base by partnering with globally recognised microfinance players,” said Suhail Chander, head, corporate and investment banking, IndusInd Bank.
