IndusInd Bank, a leading player in India’s financial landscape, has made a significant announcement by entering into a multi-year sponsorship agreement with the International Cricket Council (ICC). This landmark partnership is set to make its debut during the eagerly awaited Men’s Cricket World Cup, scheduled to kick off on October 5th, offering a global stage for the finest cricketing talents on the Indian subcontinent.
The multi-year sponsorship deal between IndusInd Bank and the ICC holds a substantial value, estimated at $20-$24 million (approximately Rs 160-200 crore). This noteworthy financial commitment underscores the bank’s unwavering dedication to bolstering the world of cricket and expanding its global reach through this prestigious association.
In an additional development that adds to the excitement, Mastercard has also stepped forward to assume a top-tier sponsorship role for the upcoming ICC Cricket World Cup 2023. This move underscores Mastercard’s deep commitment to the world of cricket and underscores the sport’s universal appeal and global significance.
This announcement about IndusInd Bank and Mastercard securing top-tier sponsor positions signifies a significant shift in the ICC’s sponsorship landscape. Reports indicate that digital payments platform BharatPe and edtech giant Byju’s have decided to prematurely terminate their associations with the ICC due to financial challenges.
This decision aligns BharatPe and Byju’s with other tech startups, including Unacademy, MPL, and Paytm, which have also scaled back their sponsorship investments. These adjustments are attributed to a decline in private equity funding and an increased emphasis on achieving profitability in a rapidly evolving business environment.
IndusInd Bank and Mastercard now join an exclusive group of top-tier sponsors for the ICC, standing alongside esteemed companies such as MRF Tyres, Booking.com, Aramco, and Emirates. These partnerships not only contribute to the growth and promotion of cricket but also serve as a testament to the enduring appeal and global influence of the sport.
IndusInd Bank Limited, a Mumbai-based financial services institution established in April 1994, occupies a prominent position in India’s financial services sector, serving approximately 35 million customers nationwide. The bank offers a diverse array of products and services tailored to both individuals and businesses, including microfinance, personal loans, personal and commercial vehicle loans, credit cards, and SME loans, among others.
With an extensive presence, the bank operates through 2,606 branches and banking outlets, in addition to 2,875 strategically placed ATMs across India, reaching 138,000 villages. Furthermore, IndusInd Bank maintains representative offices in key international hubs like London, Dubai, and Abu Dhabi.
The helm of IndusInd Bank Limited is steered by Managing Director and CEO, Sumant Kathpalia.