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Kotak Mahindra Bank Acquires StanChart's Personal Loan Portfolio for Rs 3,330 Crore.

Banking & Finance | Dated: 28 Jan 2025

In January 2025, Mumbai (Maharashtra)-based Kotak Mahindra Bank Limited (KMBL), a leading Indian private sector bank, announced the completion of its acquisition of the Rs 3,330 crore personal loan portfolio of Mumbai-based Standard Chartered Bank (SCB), India, following approval from the Competition Commission of India (CCI).

🎯 Key Highlights:

  • - In October 2024, KMBL had signed an agreement to acquire the personal loan book of Standard Chartered Bank, India, for Rs 4,100 crore, aiming to strengthen its position in the retail credit market.

💡 Other Important Facts:

  • (i) This acquisition includes all personal loans classified as standard advances.
  • (ii) The personal loan portfolio, a part of unsecured retail loans (including retail microcredit), accounted for a 10.5% share in KMBL’s net advances as of December 2024.

📚 Test Your Knowledge:

Which bank recently acquired Standard Chartered Bank's personal loan portfolio for Rs 3,330 crore?

Correct Answer: Kotak Mahindra Bank

🚀 Quick Recap: