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,

In its second quarter, which ended in September 2024, Kotak Mahindra Bank reported a slight 5 per cent increase in its standalone profit to Rs 3,344 crore on Tuesday. In the same period last year, the private sector lender reported a net profit of Rs 3,191 crore.

Kotak Mahindra Bank on Tuesday posted a marginal 5 per cent increase in its standalone profit to ₹3,344 crore in the second quarter ended in September 2024. The private sector lender had recorded a net profit of ₹3,191 crore in the same quarter a year ago.

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 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.

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

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.

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,