Kotak Mahindra Bank Ltd.

Private sector lender Kotak Mahindra Bank has received its board’s approval to raise up to Rs 5,000 crore by issuing bonds. The company’s board gave approval for the same at the meeting held on July 21, 2016.

The bank reported almost fourfold jump in net profit to Rs 741.97 crore in the first quarter ended June of current financial year. The total earnings during the period also rose to Rs 5,120.03 crore as against Rs 4,583.86 crore in the year ago period.