Private sector lender IndusInd Bank is looking to diversify its business by setting up insurance and mutual fund subsidiaries, managing director and CEO Romesh Sobti told FE in an exclusive interview. The Mumbai-headquartered bank is currently scouting for acquisition targets in the insurance and mutual fund space to start the new subsidiaries. While there is no deadline for completing the acquisitions, the bank would be open to evaluating opportunities as and when they come. “We want to see IndusInd Bank not only as a standalone banking entity, but as a conglomerate. We have learnt distribution of these products over the last 10 years. Therefore, we feel comfortable that we can now be manufacturers of them,” Sobti said.
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