Kotak Mahindra Bank will pursue acquisitions along with organic growth

KOLKATA: Kotak Mahindra Bank will continue to explore acquisitions along with organic growth to expand its business, managing director and chief executive officer Ashok Vaswani said in the bank’s annual report.

“While our primary focus remains on organic growth, we will continue to pursue inorganic opportunities that enhance scale, capabilities or customer reach, as evidenced by our recent acquisition of Deutsche Bank’s retail portfolio,” Vaswani said in his message to shareholders.

Last month, the lender bought Deutsche Bank’s retail, private banking and wealth management business in India for Rs. 282 crore signed a definitive agreement to acquire. The acquisition is expected to strengthen Kotak Mahindra Bank’s presence in the rich banking segment and grow its small business lending portfolio.

Vaswani said that the bank, Rs. With a consolidated balance sheet of over 10 lakh crore, it will also look to tap into the business opportunities that come with the country’s economic expansion.

“The strategy is in place. We have exceptional depth of leadership talent across the group, our technology foundation is strong and our balance sheet is strong,” he said.

India’s deep integration with the global economy, its digital public infrastructure and artificial intelligence as a transformative force are key growth enablers, Vaswani said.

Kotak Mahindra Bank for FY26 Rs. 19,103 crore, with its subsidiaries contributing 27% of the total.