Private sector lender IndusInd Bank aims to grow its microfinance portfolio to 5-6 percent in three years, likely to be boosted by the merger with microfinance player Bharat Financial Inclusion.
The Bank’s board members will meet on Saturday, October 14, and most likely announce the merger deal.
Currently, IndusInd Bank’s microfinance book is a little less than Rs 3,000 crore, which is 2.5 percent of the total loan book.
The two entities entered into discussions earlier this year and announced its exclusive talks in September to consider a merger.
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