Kotak Mahindra Bank acquires DLL Indias Agri and Healthcare Equipment financing portfolio

12 Jul 2022 , 01:34 AM

Kotak Mahindra Bank announced that it has acquired the Agri and Healthcare Equipment financing portfolio of De Lage Landen Financial Services India DLL India a subsidiary of De Lage Landen International BV owned by Rabobank The operations of DLL India Acquired Portfolio will be transitioned to Kotak Mahindra Bank in a planned manner over the next few months Until the transition the portfolio will continue to be managed by DLL India With this acquisition Kotak will gain access to over 25000 high-quality customers with a total standard loan outstanding of around Rs 582 crore equivalent to 698 Mn In addition to the standard loans portfolio Kotak has also acquired the Non-Performing Assets portfolio with a total loan outstanding of around Rs 69 crore equivalent to 83 Mn