Kotak Mahindra Bank to acquire the India personal loan business from Standard Chartered.

Kotak Mahindra Bank, a financial services conglomerate, agreed to acquire the India personal loan business from Standard Chartered, a multinational bank. Financial terms were not disclosed. “India’s unsecured lending market offers significant growth potential for Kotak, especially in the higher-end segment. Our strong risk management, customer-centric products, and technology-driven approach position us for sustainable growth. This transaction supports our Retail Assets growth strategy and reinforces our commitment to retail lending. It provides access to a high-quality customer base, and with Kotak Group’s successful integration track record, we are committed to a smooth transition. We look forward to welcoming new customers to Kotak Mahindra Bank, ensuring a seamless transition and enhanced experience with our diverse products and services," Ambuj Chandna, Kotak Mahindra Head-Products, Consumer Bank.