Kotak Mahindra Bank acquires Standard Chartered India’s personal loan biz for Rs 3,330 cr
Kotak Mahindra Bank on Thursday said it has completed the acquisition of the personal loan portfolio of Standard Chartered India for Rs 3,330 crore.
Kotak Mahindra Bank on Thursday said it has completed the acquisition of the personal loan portfolio of Standard Chartered India for Rs 3,330 crore.
Kotak Mahindra Bank Limited, on Friday, announced that it has entered into an agreement to acquire the Personal Loan book (“Proposed Transaction”) of Standard Chartered Bank, India, further strengthening its position in the Retail Credit market.
At 9.39 a.m., Sensex was up 687 points or 0.83 per cent at 83,635 and Nifty was up 197 points or 0.78 per cent at 25,575.
The market regulator Securities and Exchange Board of India (SEBI) has said Hindenburg Research shared an advance copy of its critical report on Adani Group with New York-based hedge fund manager Mark Kingdon about two months before its public release
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The stock jumped 2.13 per cent to Rs 1,761.20 on the BSE.
The benefits will also include offer special education benefit for children and additional girl child benefit by covering dependent children of up to 22 years in the event of an accident claim by the salary account holder.
The holding of the bank at the consolidated level continues to be 20 per cent.
State Bank of India (SBI) has cut its offering on this segment to 6.70 per cent.
On a consolidated basis, the bank's profit increased by 11 per cent to Rs 2,602 crore as compared to Rs 2,349 crore in the same period a year ago.
