Kotak Mahindra Bank Ltd.

The Competition Commission of India (CCI) has approved the proposed combination in the nature of merger of ING Vysya Bank with Kotak Mahindra Bank under Section 31 (1) of the Competition Act, 2002.

ING Vysya Bank has registered a fall of 12.94% in its net profit after tax at Rs 145.69 crore for third quarter ended December 31, 2014 under review as compared to Rs 167.34 crore for the same quarter in the previous year. Total income of the bank has increased 13.81% at Rs 1693.30 crore for Q3FY15 as compared Rs 1487.85 crore for the corresponding quarter previous year.

Gross non-performing assets (NPAs) increased to 1.86% in the October- December quarter as against 1.68% in the same quarter previous year, while net NPAs stood at 0.66%.