Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank’s wholly owned subsidiary -- Kotak Mahindra Investments (KMIL) has executed a Share Purchase Agreement, for sale of its entire equity stake of 19.77% in Matrix Business Services India, an associate company. Upon completion of said sale, Matrix will cease to be an associate company of KMIL and consequently of the Bank.

Matrix is in the business of providing assurance services, claims processing, including employee background verifications checks and product and process audits.

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.