Kotak Mahindra to offer MSME loan in 59 mins; becomes first private bank to join Modi’s scheme
Posted on 11th March 2019 |
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Uday Kotak-led Kotak Mahindra Bank on Monday said that it has become the first private sector lender to join the platform — psbloansin59minutes.com — to offer loans of up to Rs 1 crore to micro, small & medium enterprises (MSME). Kotak Mahindra Bank now joins the other public sector banks (PSBs) to offer loans to the small businesses that receive approval in less than 60 minutes. |
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Kotak Mahindra Bank Q3 net rises 23% to Rs 1,291 crore
Posted on 22nd January 2019 |
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Kotak Mahindra Bank (KMB) on Monday reported a 22.5% year-on-year (y-o-y) rise in its standalone net profit at Rs 1,291 crore for the third quarter of FY19. The profits were driven up by a good growth in the top line and also due to a write-back in provisions. While provisions in Q3FY18 totalled `212.77 crore, in the December 2018 quarter there was a write-back of `32.3 crore. |
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Kotak Mahindra Bank consolidated Q3 net up 13.5% to Rs 1,844 crore
Posted on 21st January 2019 |
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Private lender Kotak Mahindra Bank reported 13.5 per cent rise in its third quarter (Q3) consolidated net profit on account of higher interest and fee income. The asset quality of the bank’s loan book also improved during the quarter. Profit after tax at the consolidated level rose to Rs 1,844 crore for the quarter ended December 2018 (Q3FY19), from Rs 1,624 crore in the year-ago period (Q3FY18). |
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High Court refuses to stay deadline for Kotak Mahindra Bank for promoter stake
Posted on 18th December 2018 |
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The Bombay High Court Monday refused to grant stay on the December 31 deadline to private sector lender Kotak Mahindra Bank for promoter stake dilution. A division bench of justices B P Dharmadhikari and S V Kotwal directed the Reserve Bank of India (RBI) to file its affidavit by January 17, 2019, on a petition filed by the Kotak Mahindra Bank against the dilution directive. |
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No relief for Kotak Bank on promoter shareholding, shares fall
Posted on 17th December 2018 |
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Mumbai: Kotak Mahindra Bank shares fell over 3% on Monday after the Bombay high Court refused to grant stay on 31 December deadline given by the Reserve Bank of India for promoter stake dilution. The next hearing will be on 17 January, Bloomberg reported. In intraday, Kotak Mahindra Bank shares declined as much as 3.6% to hit a low of ₹1,209.30 apiece. The Kotak Bank stock closed at 1,223.90 per share, down 2.50% from its previous close, while the Sensex rose 0.85% to 36,270.07 points. |
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Kotak Bank moves HC against RBI over promoter shareholding dispute
Posted on 10th December 2018 |
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PPrivate lender Kotak Mahindra Bank has filed a writ petition with the Bombay High Court after the Reserve Bank of India (RBI) turned down the bank’s proposal to reduce promoter stake by issuing perpetual non-convertible preference shares (PNCPs). |
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Regulators under scanner: Kotak, Mahindra slam excessive rules
Posted on 30th November 2018 |
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Industry captains Anand Mahindra and Uday Kotak on Thursday came out against “proliferation” of regulations in business, stating that in the current environment they are forced to follow the rules in letter and not in spirit. The comments come days after industry veteran Rahul Bajaj expressed his displeasure on laws made by Sebi and corporate affairs ministry in the wake of fleeing defaulters. |
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Kotak Mahindra Bank Q2 net rises 21% to Rs 1,747 crore
Posted on 25th October 2018 |
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Private sector lender Kotak Mahindra Bank on Wednesday reported a rise of 21.3 per cent in its consolidated net profit to Rs 1,747.37 crore in the second quarter ended September this fiscal. The bank had posted Rs 1,440.68 crore net profit in the July-September period of 2017-18. |
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Kotak Mahindra rolls out mobile medical vans under CSR
Posted on 8th September 2018 |
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Kotak Mahindra Life Insurance Company Saturday said it has rolled out three mobile medical vans under the corporate social responsibility initiative ‘Life First’, in association with Wockhardt Foundation. As part of the agreement, three medical vans which act as primary health care centres on wheels would be managed by the Wockhardt Foundation, a press release said. |
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