- Kotak Mahindra Bank completed a strategic acquisition of a Rs33.3 billion personal loan portfolio.
- The acquisition was finalized on January 23, 2025, from Standard Chartered Bank.
- This move strengthens KMB's position in the unsecured retail advances market.
Kotak Mahindra Bank's Strategic Acquisition
Kotak Mahindra Bank (KMB, Financial) has announced the successful acquisition of a personal loan portfolio worth Rs33.3 billion ($385 million) from Standard Chartered Bank. This strategic acquisition, finalized on January 23, 2025, marks a significant milestone for KMB as it continues to expand its presence in the unsecured retail advances sector.
Enhancing Retail Lending Capabilities
With this acquisition, Kotak Mahindra Bank aims to bolster its portfolio of unsecured retail advances. The move comes after regulatory and condition approvals and allows KMB to further diversify its lending products, meeting the evolving needs of its customer base.