Acquisitions23 Jan 2025, 10:18 pm
Kotak Mahindra Bank Completes Acquisition of Standard Chartered's Personal Loan Book for INR 3,330 Crore
AI Summary
Kotak Mahindra Bank Ltd has completed the acquisition of the Personal Loan book of Standard Chartered Bank, India. The acquisition is worth INR 3,330 crore. The bank had previously intimated about the proposed acquisition on October 18, 2024 and November 27, 2024. The acquisition was completed after receiving necessary regulatory approvals and fulfilling relevant conditions precedent.
Key Highlights
- Kotak Mahindra Bank completes acquisition of Standard Chartered's Personal Loan book
- Aggregate size of the portfolio acquired is INR 3,330 crore
- Acquisition completed after receiving necessary regulatory approvals
- Completion of acquisition fulfills relevant conditions precedent