Kotak Mahindra Bank Acquires ₹33.30 Billion Personal Loan Portfolio of Standard Chartered India, Strengthening Retail Lending Presence

Kotak Mahindra Bank Limited (KMBL) has finalized the acquisition of Standard Chartered Bank's personal loan portfolio in India, valued at ₹4,100 crore as of September 30, 2024. This strategic move aligns with KMBL's objective to enhance its retail lending segment and expand its market share in the 'Salaried Affluent' customer base. The acquisition comprises standard unsecured personal loans, adhering to the Reserve Bank of India's guidelines. The Competition Commission of India approved the transaction in November 2024, facilitating its completion within the anticipated three-month timeframe.

Source: Moneycontrol