Kotak Bank explores potential takeover Bid of IndusInd Bank
Kotak Bank explores potential takeover Bid of IndusInd Bank
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Kotak Mahindra Bank Ltd is reportedly exploring a potential takeover of smaller competitor IndusInd Bank Ltd. If such a deal is clinched, it could significantly expand Kotak Mahindra’s presence in the Indian banking sector, particularly in the retail segment,

IndusInd Bank has denied reports of a proposed takeover of Kotak Mahindra Bank and has named the take over as malevolent.  The Promoter of Indusind Bank, IndusInd-International Holdings Limited (IIHL), completely denies the said rumour and considers it malicious, untrue and baseless. IndusInd International Holdings is promoted by the Hindujas and a broad base of other successful NRIs from the overseas Indian diasporas.

Whenever financial crunches have impacted the Indian economy and its financial institutions, the Promoter of the IndusInd Bank has positively intervened to support and improve the financial position of the bank. It has a strong track record of facilitating the acquisitions in 2002 of IndusInd Enterprises and Finance Ltd by the bank, followed by another one of Ashok Leyland Finance Ltd  in 2004. Recently in July 2019, it supported the acquisition of Bharat Financial Inclusion Ltd (BFIL) by the IndusInd Bank. The Promoter would continue to support IndusInd Bank’s initiatives to grow inorganically should any such opportunities arise on the horizon in the future. It is worth recalling that amongst the nine original licensees, including four institutional and five private, that were allowed to set up banking operations in 1994, IndusInd Bank is the only privately promoted bank that successfully continues its operations because of the promoter support.

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