Hotline: 1800 102 2007
X
Search Business Opportunities
2013-02-06

Kotak Mahindra buys Barclays India’s SME lending business

Kotak Mahindra Bank on Tuesday acquired Barclays India\'s business loans portfolio or SME lending business worth about Rs 700 crore for an undisclosed amount. This will give Kotak an access to 6,000 new customers from Barclays.

Kotak Mahindra Bank on Tuesday acquired Barclays India's business loans portfolio or SME lending business worth about Rs 700 crore for an undisclosed amount. This will give Kotak an access to 6,000 new customers from Barclays.

For the British bank, the latest sale is yet another attempt to reduce its exposure in India as it shifts focus to corporate and investment banking while reducing retail exposure in the country.

The parties had won the go-ahead for the deal from the Competition Commission last week.

Confirming the sale, Barclays in a statement, said, “Our growth in India is focused on our competitive strengths providing services to multinationals and large corporates, utilising our offerings in international banking, such as cash management and trade finance, as well as providing wealth management and investment banking services.”

Barclays has been winding down its loan book for the past couple of years. In December 2011, it sold its credit card business to Standard Chartered Plc and Kotak Mahindra Bank.

In the three months to December, Kotak Bank reported a 25 per cent rise in its net profit to Rs 577.2 crore. Total income of the bank during quarter stood rose to Rs 4,157.12 crore from Rs 3,123.31 crore in the previous fiscal. Income from other sources increased to Rs 500.14 crore from Rs 490.18 crore over the same period previous fiscal.

Related opportunities
  • Ice creams & Yogurt Parlors
    About Us: Nirula's is India's oldest fast food restaurant chain. Based..
    Locations looking for expansion Delhi
    Establishment year 1950
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Become ASCENT ABACUS & BRAIN GYM franchisee today to be..
    Locations looking for expansion Haryana
    Establishment year 2003
    Franchising Launch Date 2005
    Investment size Rs. 50 K - 2lac
    Space required 300 sq. ft.
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Gurgaon Haryana
  • Automobile resellers
    About: Our Brand , Our Core Values - The Power of..
    Locations looking for expansion Karnataka
    Establishment year 1950
    Franchising Launch Date 2016
    Investment size Rs. 10lac - 20lac
    Space required 0
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Bars, Pubs & Lounge
    About Us: TJ's Brew Works is a microbrewery, with freshly brewed..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2018
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 2000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts