Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank has informed that Kotak Mahindra Bank has, today, i.e., on October 18, 2024, entered into a definitive agreement with Standard Chartered Bank, India for acquisition of its Personal Loan book (total loan outstanding of around ?4,100 crore as of September 30, 2024). The above transaction is expected to be completed over the next three months and is subject to regulatory and other approvals and the satisfaction or waiver of customary closing conditions. The Bank will acquire the Personal Loan book which will be outstanding closer to the completion date. The above transaction is not a related party transaction and the Promoter/ Promoter Group/ Group Companies do not have any interest therein. A Media Release being issued by the Bank in this regard, is attached for reference. This intimation is also being made available on the Bank’s website at https://www.kotak.com/en/investorrelations/governance/sebi-listing-disclosures.html

The above information is a part of company’s filings submitted to BSE.