Kotak Mahindra Bank, a private lender, announced that it has successfully acquired Standard Chartered’s ₹3,330-crore personal loan portfolio after receiving regulatory approvals and fulfilling required conditions, the company said in a press release on the stock exchanges. The transaction was finalised on January 23, 2025.
The portfolio consists of standard advances, marking a significant addition to Kotak’s retail loan book. This move comes amid heightened regulatory concerns over unsecured loans, with increased risk weights aimed at curbing excessive growth in this segment.
Kotak Mahindra Bank announced a 10.22% rise in its consolidated net profit for the third quarter of FY25, reaching ₹4,701 crore, compared to ₹4,265 crore in the same period last year. However, this was lower than ₹5,044 crore from the previous quarter (Q2 FY25).
The bank’s standalone net profit also increased to ₹3,304 crore from ₹3,005 crore in Q3 FY24, although it showed a slight dip from ₹3,343 crore in the prior quarter.
Total income for the quarter grew to ₹16,050 crore, up from ₹14,096 crore a year ago, while expenses rose to ₹10,869 crore from ₹9,530 crore.
The bank’s gross non-performing assets (NPA) ratio saw a small increase to 1.50%, up from 1.49% in the last quarter. Provisions amounted to ₹794 crore, which was higher than ₹579 crore in Q3 FY24 and ₹660 crore in Q2 FY25.
Despite facing some challenges, Kotak Mahindra Bank’s results for Q3 FY25 reflected consistent profit growth.
Kotak Mahindra Bank’s share price traded 0.77% lower at ₹1,880.30 at 10:00 AM on the NSE, after opening at ₹1,891, compared to ₹1,894.85 at the previous close. This decline adds to yesterday’s loss of 1.28%.
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Published on: Jan 24, 2025, 10:06 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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