India's Kotak Mahindra Bank on Saturday reported a lower-than-expected 5% increase in July-September profit on higher loan provisions while lending margins shrank. The private lender's standalone net profit,

Despite higher provisions, the bank's net interest income rose 11% to Rs 7,020 crore. Meanwhile, provisions for the quarter were at Rs 660 crore, up 80%.

Kotak Mahindra Bank reported a 13% rise in quarterly profit, reaching Rs 5,044 crore, driven by its subsidiaries' performance. While standalone profit grew 5%, provisions limited gains. The bank experienced a rise in unsecured loan slippages,

Kotak Mahindra Bank will buy Standard Chartered Bank's personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia's third-largest economy.

Kotak Securities reported a PAT of ₹324 crore in Q2, down from ₹400 crore YoY. Its overall market share also dipped slightly to 11.6% from 12.2%. Meanwhile, Kotak Mahindra AMC saw its PAT rise to ₹197 crore sequentially, while its assets under management (AUM) jumped by a substantial 37% YoY to reach ₹6,80,838 crore.

This deal marks the second significant transaction between an Indian private sector bank and a foreign bank in recent years

Kotak Mahindra Bank on Friday announced that it will be acquiring foreign lender Standard Chartered Bank's Rs 4,100-crore personal loan portfolio for an undisclosed sum. The private sector bank will be picking up the entire quantum of the foreign lender's personal loans classified as "standard advances" and the transaction is expected to be

Mumbai: Kotak Mahindra Bank on Friday announced that it will acquire Standard Chartered Bank’s personal loan portfolio in India, as the UK-based lender shifts its focus toward wealth

Kotak Mahindra Bank has announced it will acquire Standard Chartered Bank's personal loan book in India, worth Rs 4,100 crore. The deal is expected to finalize within three months. This move aligns with Kotaks strategy to expand its market share and grow in the affluent customer segment,

StanChart's personal loan book had an outstanding of Rs 4,100 crore ($488 million) as of Sept. 30, Kotak Mahindra Bank said. India's personal loan market has become intensely competitive amid strong consumer demand.

The transaction is expected to be completed within the next three months, pending regulatory approvals and the satisfaction or waiver of customary closing conditions. KMBL will acquire the loan book,