Kotak Mahindra Bank plans $1bn-plus acquisitions under new CEO
Business
Kotak Mahindra Bank is gearing up for some major acquisitions, hoping to invest its extra cash in deals worth over $1 billion.
With new CEO Ashok Vaswani at the helm since January 2024, the bank says it's focused on smart buys that fit its long-term goals, without getting sidetracked from what matters most.
Vaswani, guided by Uday Kotak, is staying focused on growth
Backed by a solid capital-to-risk ratio of 22.6% at the end of December, Kotak has already picked up a personal loan portfolio from Standard Chartered and bought microlender Sonata Finance in 2024.
While an $8 billion bid for IDBI Bank didn't progress further, Vaswani, guided by founder Uday Kotak, is staying focused on growth as India's banking sector keeps evolving.