Kotak Mahindra Bank to acquire personal loan book of Standard Chartered Bank, India

Kotak Mahindra Bank has entered into a definitive agreement with Standard Chartered Bank, India for acquisition of its Personal Loan book (total loan outstanding of around Rs 4,100 crore as of 30 September 2024).

The above transaction is expected to be completed over the next three months and is subject to regulatory and other approvals and the satisfaction or waiver of customary closing conditions.

The Bank will acquire the Personal Loan book which will be outstanding closer to the completion date.