Kotak Mahindra Bank (KMBL) has acquired the business loans portfolio from Barclays Bank PLC, India Branch and Barclays Investment and Loan (India). The acquisition is in line with KMBL’s strategy to add value to its existing business lines as it strengthens business loans portfolio.
With this acquisition, KMBL will gain access to approximately 6,000 business loan customers, with a total loan outstanding of about Rs 700 crore. All these acquired loans are classified as standard loans as per current RBI guidelines.
Established in 1985, the Kotak Mahindra group is one of India’s leading financial services conglomerates.
