Kotak Mahindra Bank Acquires Standard Chartered's Personal Loan Book

Kotak Mahindra Bank has finalized the acquisition of Standard Chartered Bank India's Rs 3,300 crore personal loan portfolio. The deal, completed on January 23, 2025, followed necessary regulatory approvals. This acquisition comes amidst regulatory concerns over unsecured loans, prompting caution in loan book expansion.

Kotak Mahindra Bank announced on Thursday the completion of its acquisition of a Rs 3,300 crore personal loan portfolio from Standard Chartered Bank India.

The transaction was finalized on January 23, 2025, after receiving regulatory approvals and meeting necessary preconditions, as stated in the bank's regulatory filing.

This development occurs amid increasing regulatory flags on unsecured loans, including personal loans, encouraging lenders to exercise caution in expanding their books.

(With inputs from agencies.)