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 Mahindra Bank announced its acquisition of Standard Chartered Bank's Rs 4,100-crore personal loan portfolio, a strategic move aligning with its customer-centric growth focus. The transaction, expected to complete in three months,

The lender's growth outlook, especially on the trajectory of unsecured book, will be key to watch, say analysts

Kotak Mahindra Bank announced its acquisition of Standard Chartered Bank's Rs 4,100-crore personal loan portfolio. This strategic move aligns with Kotak's customer-centric growth focus, enhancing its retail lending position.

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

Kotak Mahindra Bank reported a net profit of Rs 3,344 crore in Q2FY25, up 5% YoY growth from Rs 3,191 crore in Q2FY24. Net interest income (NII) increased 11% YoY in Q2FY25 from Rs 6,297 crore to Rs 7,

As of June 2024, Kotak Mahindra Bank's personal loans, consumer durable loans, and business loans totalled Rs 20,317 crore, while credit card loans amounted to Rs 14,644 crore.

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

Kotak Mahindra Bank says Standard Chartered Bank's high-quality loan book allows it to build on its strength in 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.