Kotak Mahindra Bank acquires StanChart's Rs 3,330-cr personal loan portfoilio

economictimes.indiatimes.com:

Kotak Mahindra Bank on Thursday said it has completed the acquisition of Rs 3,300 crore personal loan book of Standard Chartered Bank India following regulatory approvals. After having received the necessary regulatory approvals and upon fulfillment of the relevant conditions precedent, the bank on January 23, 2025, completed the acquisition, Kotak Mahindra Bank said in a regulatory filing.

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The private sector bank has picked up the entire quantum of the foreign lender's personal loans classified as standard advances.
The announcement to this effect was made in October last year.

It also comes at a time when the regulator has been flagging risks on the unsecured loans like personal loans front and has also increased risk weights to dissuade lenders from growing the books.
Kotak Mahindra Bank shares closed 1.88 per cent down at Rs 1,894.60 apiece on the BSE on Thursday.