Kotak Mahindra Bank has recently announced that the bank completed the acquisition of the personal loan book from Standard Chartered Bank, India, valued at ₹3,330 crore.
This move follows regulatory approvals and fulfillment of necessary conditions. Previously announced on October 18 and November 27, 2024, the acquisition strengthens Kotak Mahindra Bank’s retail loan portfolio and expands its presence in the personal loan segment. This strategic acquisition underscores Kotak Mahindra Bank’s commitment to enhancing its customer base and accelerating growth in the personal loan market.
“We now wish to inform you that, after having received the necessary regulatory approvals and upon fulfillment of the relevant conditions precedent, the Bank has, today, i.e., on January 23, 2025, completed the aforesaid acquisition. The aggregate size of the portfolio acquired is 3,330 crore,” Kotak Mahindra Bank stated.
