Kotak Mahindra Bank in South Africa

Kotak Mahindra Bank’s Strategic Moves and Financial Performance

Johannesburg, South Africa – October 19, 2025

Kotak Mahindra Bank, one of India’s leading private sector banks, has recently undertaken significant strategic initiatives and reported robust financial performance, reflecting its commitment to growth and innovation.

Acquisition of Personal Loan Portfolio

In January 2025, Kotak Mahindra Bank completed the acquisition of a personal loan portfolio valued at ₹33.3 billion (approximately $385 million) from Standard Chartered Bank. This move aims to bolster the bank’s unsecured retail advances, which constituted 10.5% of its net advances as of December 2024. Ambuj Chandna, Head of Consumer Bank at Kotak Mahindra Bank, emphasized the bank’s cautious approach in this segment and its intention to systematically expand the personal loan book. (retailbankerinternational.com)

Financial Performance in Q2FY26

For the quarter ending September 30, 2025, Kotak Mahindra Bank reported a 15.8% year-on-year increase in net advances, reaching ₹4.62 lakh crore. Total deposits grew by 14.6% to ₹5.28 lakh crore, supported by steady loan demand and a rise in Current Account and Savings Account (CASA) deposits. The bank’s CASA balances increased by 11.2% year-on-year to ₹2.23 lakh crore, reflecting strong customer engagement. (financialexpress.com)

Strategic Focus on Affluent Segment

In July 2025, Kotak Mahindra Bank launched ‘Solitaire,’ a program targeting the underserved affluent segment with relationship values between ₹75 lakh and ₹8 crore. This invite-only offering includes dedicated credit cards, specially designed loans, and access to group company products. The bank aims to expand its 4% market share in this segment by leveraging pre-approved credit lines and family benefits. (ai.economictimes.com)

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Regulatory Developments

In April 2024, the Reserve Bank of India (RBI) directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels and to halt issuing fresh credit cards. This action was taken due to deficiencies in the bank’s IT risk and information security governance for the years 2022 and 2023. The bank has since implemented measures to strengthen its IT systems and continues to work with the RBI to resolve the issues promptly. (indianexpress.com)

Leadership Appointment

Ashok Vaswani, a seasoned banker with experience at Citigroup and Barclays, assumed the role of Managing Director and CEO of Kotak Mahindra Bank on January 1, 2024. His appointment is expected to drive the bank’s strategic initiatives and enhance its market position. (en.wikipedia.org)

Conclusion

Kotak Mahindra Bank’s recent acquisitions, financial growth, and strategic initiatives underscore its commitment to expanding its footprint and enhancing customer offerings. The bank’s focus on the affluent segment and efforts to strengthen its digital infrastructure position it well for sustained growth in the competitive banking landscape.

For more information, visit Kotak Mahindra Bank’s official website.