Kotak Mahindra Bank surges on acquiring personal loan book of Standard Chartered Bank
Kotak Mahindra Bank is currently trading at Rs. 1906.90, up by 12.30 points or 0.65% from its previous closing of Rs. 1894.60 on the BSE.
The scrip opened at Rs. 1894.55 and has touched a high and low of Rs. 1913.00 and Rs. 1873.40 respectively. So far 26252 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1953.00 on 23-Sep-2024 and a 52 week low of Rs. 1544.15 on 03-May-2024.
Last one week high and low of the scrip stood at Rs. 1929.00 and Rs. 1867.05 respectively. The current market cap of the company is Rs. 379283.89 crore.
The promoters holding in the company stood at 25.89%, while Institutions and Non-Institutions held 61.22% and 12.90% respectively.
Kotak Mahindra Bank has completed the acquisition of the Personal Loan book of Standard Chartered Bank, India, on January 23, 2025, after having received the necessary regulatory approvals and upon fulfillment of the relevant conditions precedent. The aggregate size of the portfolio acquired is Rs 3,330 crore.
Earlier, the bank had entered into an agreement to acquire the personal loan book of Standard Chartered Bank, India, further strengthening its position in the Retail Credit market.
Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
