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Kotak Mahindra Bank Completes INR95.9 Billion Loan Portfolio Transfer From Subsidiary

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Kotak Mahindra Bank (NSE:KOTAKBANK, BOM:500247) completed the direct assignment of a loan portfolio worth 95.9 billion rupees from its wholly owned subsidiary, Kotak Mahindra Investments (KMIL), effective July 1.

The transfer forms part of the bank's plan to bring KMIL's business activities within the bank, according to an Indian bourse filing on Thursday. The bank had earlier disclosed plans to acquire KMIL's loan portfolio and non-treasury investments, which together amounted to 106.4 billion rupees as of March 31, in one or more tranches.

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