KOTAKBANK

MUMBAI, Feb 13 (Reuters) - India's western state of Gujarat has appointed veteran banker Uday Kotak as the chairman of GIFT City, replacing former bureaucrat Hasmukh Adhia, according to a notice by the state government.

Gujarat International Finance Tec-City, or GIFT City, offers easier tax rules and regulations as it seeks to attract global capital to compete with financial centres such as Singapore and Dubai.

Earlier this month, India's federal government doubled the tax holiday for businesses establishing operations in GIFT City to 20 years.

Uday Kotak is the largest shareholder in India's Kotak Mahindra Bank and his financial empire includes an alternative investment business, asset management and insurance, among others.

(Reporting by Sumit Khanna in Ahmedabad and Jayshree Upadhyay in Mumbai; Editing by Shilpi Majumdar)

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Adds details from government spokesperson and holdings from paragraph 3

Feb 7 (Reuters) - India's Kotak Mahindra Bank KTKM.NS said in an exchange filing on Saturday that it has not submitted a financial bid for IDBI Bank IDBI.NS.

Reuters on Friday reported that the private lender was one of the bidders for the state-owned bank.

The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.

The Indian government and state-owned Life Insurance Corporation of India (LIC) (LIFI.NS) together plan to sell 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.

(Reporting by Sai Ishwarbharath B; Editing by Sam Holmes)

Adds source based details of bidders

By Gopika Gopakumar, Ashwin Manikandan and Nikunj Ohri

NEW DELHI, Feb 6 (Reuters) - The planned sale of India's state-owned IDBI Bank IDBI.NS has attracted bids from Canadian investment group Fairfax Financial FFH.TO, Emirates NBD ENBD.DU and Kotak Mahindra Bank KTKM.NS, according to three sources with knowledge of the matter.

The Indian government and state-owned Life Insurance Corporation of India (LIC) LIFI.NS together plan to sell 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.

The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.

The bids will be evaluated as per the government’s stake sale process, Chawla said in a post on X.

The sale of IDBI was first announced in 2022, and the government plans to announce the buyer by March.

At the bank's current market capitalisation of 1.14 trillion Indian rupees ($12.60 billion), the 60% stake would be worth over $7.5 billion. Reuters could not determine the value of the bids placed by potential buyers.

Fairfax, which already has a majority stake in India's CSB BankCSBB.NS, will look to merge IDBI Bank with it if they win the bid, one of the sources said.

Kotak Mahindra Bank and Emirates NBD have also submitted bids, all three sources said.

The sources declined to be identified as they are not authorised to speak to the media.

Emails sent to India's federal finance ministry, Fairfax, Emirates NBD and Kotak Mahindra Bank requesting comment were not immediately answered.

The government has previously said the sale will be concluded in the current financial year ending March 31, 2026. The successful bidder will be allowed to rename the bank, Reuters reported last week.

IDBI Bank had to be rescued by the state-owned insurer in 2019, after a surge in bad loans. Its share price has gained 26% in the last 12 months in anticipation of a sale.

(Reporting by Gopika Gopakumar and Ashwin Manikandan in Mumbai and Nikunj Ohri in New Delhi, writing by Shilpa Jamkhandikar; editing by Alexandra Hudson and Susan Fenton)

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** Shares of Kotak Mahindra Bank KTKM.NS fall as much as 5.3% to 400.50 rupees

** Stock set to fall the most since July 2025

** The lender, India's third-largest private lender by market cap, said its Q3 net profit rose to 34.46 billion rupees ($375.2 million) vs analysts estimates of 35.72 billion rupees - data compiled by LSEG

** While growth is picking up, higher opex seen after four quarters of managing it well; opex (ex-labour code impact) went up 6% Q/Q - CLSA

** Emkay expects KTKM to report a relatively moderate RoA of 1.9% in FY26E, albeit with an improvement to 2% in FY27/FY28E as margins and loss -loss provisions normalize

** Its provisions and contingencies fell 15% Q/Q to 8.1 billion rupees. However, they were still up 2% Y/Y

** Analysts have a "buy" rating on avg; median PT is 493 rupees - data compiled by LSEG

** KTKM down 9% so far in January

($1 = 91.8470 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru)

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Jan 24 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• INDIA'S KOTAK MAHINDRA BANK: QTRLY STANDALONE NET PROFIT ROSE 4.2% TO 34.46 BILLION RUPEES

Source text: [ID:]

Further company coverage: KTKM.NS

(([email protected];))

By Gopika Gopakumar, Vibhuti Sharma and Ashwin Manikandan

MUMBAI, Jan 23 (Reuters) - India's Axis Bank AXBK.NS has put on hold plans to sell a stake in its consumer lending arm, Axis Finance. after the central bank eased proposed restrictions on overlapping business activities between banks and their subsidiaries, three sources familiar with the matter told Reuters.

India's third-largest lender initiated the stake sale process in Axis Finance last year and appointed merchant bankers, after the Reserve Bank of India in 2024 proposed draft rules that barred banks from having overlapping businesses with subsidiaries.

Morgan Stanley had been appointed as a banker to the deal.

However, following a pushback from the industry, the RBI diluted its proposal in December 2025, permitting banks to continue with potentially overlapping non-bank businesses while ring-fencing them from banks' main operations.

The rules in their original form could have forced large banks, including HDFC Bank HDBK.NS, ICICI Bank ICBK.NS and Axis Bank AXBK.NS to either merge or divest non-bank lending businesses held as subsidiaries.

The change in rules has prompted a rethink at Axis Bank, the sources, directly familiar with the deal, said.

"Axis Finance is well-capitalised and does not need to rush into raising capital," said one of the sources, who declined to be named.

An email sent to Axis Bank and to Morgan Stanley was not answered.

Axis Finance, registered as a non-bank finance company, is set to submit a revised growth plan to the bank's board in April and will reevaluate its capital-raising needs thereafter, the person said.

A separate source, while not confirming that the deal is on hold, said the bank will approach the regulator with options for Axis Finance - including infusing fresh capital itself.

The deal to sell an initial 20% stake in the lender was estimated to be worth $350 million to $400 million, according to local media reports. Reuters could not independently confirm the value of the deal.

Homegrown private equity fund Kedaara Capital was most actively in discussions, the second of the three sources said.

A third source said the bids received were not lucrative enough, which prompted the bank to pull back on the sale after the recent change in regulations.

Axis Bank has invested 23.75 billion Indian rupees ($262.49 million) in Axis Finance over the past decade, according to the company's website. As of March 31, 2025, Axis Finance had assets under management of 415.83 billion rupees.

($1 = 90.4780 Indian rupees)

(Reporting by Gopika Gopakumar, Vibhuti Sharma and Ashwin Manikandan in Mumbai; Editing by Ros Russell)

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MUMBAI, Jan 21 (Reuters) - India's Kotak Mahindra Prime has accepted bids worth 7 billion rupees ($76.64 million) for bonds maturing in three years and four months, three merchant bankers said on Wednesday.

It will pay a coupon of 7.426%, and had invited commitment bids for the issue on Tuesday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on January 21:

*Size includes base plus greenshoe for some issues

($1 = 91.3400 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sherry Jacob-Phillips)

(([email protected], [email protected]))

Jan 13 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• KOTAK MAHINDRA BANK - TO CONSIDER PASSING ENABLING RESOLUTION FOR RAISING FUNDS

• KOTAK MAHINDRA BANK - TO CONSIDER PASSING ENABLING RESOLUTION FOR ISSUANCE OF NCDS ON PRIVATE PLACEMENT BASIS

Source text: https://tinyurl.com/3cb6j5m9

Further company coverage: KTKM.NS

(([email protected];))

Jan 12 (Reuters) -

• DEUTSCHE BANK AG’S INDIA RETAIL ASSETS AND WEALTH MANAGEMENT HAVE DRAWN BINDING BIDS FROM KOTAK MAHINDRA BANK AND FEDERAL BANK -BLOOMBERG NEWS

Source text: https://tinyurl.com/yn6rsvxf

Further company coverage: [DBKGn.DE]

(([email protected];))

Adds details throughout

Jan 5 (Reuters) - IndusInd Bank INBK.NS on Monday reported a sequential decline in loans for a fourth straight quarter, reflecting continued pressure on the private lender's growth.

Loans dropped 2.2% quarter-on-quarter in the October–December period, while deposits rose 1.1%, it said.

On a year-on-year basis, loans fell 13.1%, while deposits dropped 3.8%.

This is in contrast to other major lenders like HDFC Bank HDBK.NS and Kotak Mahindra Bank KTKM.NS, which have reported double digit year-on-year loan growth for the December quarter, signalling a rebound in credit demand in the world's fastest-growing major economy.

IndusInd Bank has been under pressure since disclosing a $230 million hit in the year ended March 31, 2025 due to misaccounting in internal derivative trades, which raised concerns over governance and led to the resignations of the then CEO Sumant Kathpalia and deputy chief Arun Khurana.

Veteran banker Rajiv Anand took the helm at IndusInd in August after receiving regulatory approval from the Reserve Bank of India.

IndusInd shares, which had fallen sharply post the misaccounting disclosure, have largely recovered. However, loan and deposit growth has remained under pressure.

The lender's current account and savings account (CASA) ratio – a key measure of low-cost deposit base and operational efficiency – declined to 30.3% from 30.7% in the previous quarter and 34.9% a year earlier.

(Reporting by Nishit Navin; Editing by Shailesh Kuber)

(([email protected];))

Oct 15 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• KOTAK MAHINDRA BANK : ONE YEAR MCLR AT 8.45% FROM OCT 16

Source text: [ID:]

Further company coverage: KTKM.NS

([email protected])

By Bharath Rajeswaran and Rajendra Jadhav

Oct 10 (Reuters) - Kotak Mahindra Asset Management Company's suspension of lump-sum subscriptions in its silver exchange-traded fund-of-funds is "purely temporary" and likely to be lifted within the next couple of weeks as supply improves after the Hindu festival of Diwali, said Satish Dondapati, fund manager at the firm.

The fund house announced it was halting new lump-sum investments after market hours on Thursday, as domestic silver prices surged to record highs, trading at steep premiums over international levels due to a shortage of physical silver. Spot silver XAG=, reflecting the global price, hit $51.22 per ounce, surpassing $51 for the first time.

"We've spoken to bullion dealers and jewellers who expect silver supply to ease by Diwali (on October 21). September 2025 imports have nearly doubled compared to previous months, so once that metal hits the market, prices should normalise," Dondapati said.

Silver prices have nearly doubled in 2025, climbing from about $29 per ounce at the end of 2024, as geopolitical tensions and expectations of U.S. rate cuts spurred demand for safe-haven assets.

"Many investors don't realise they're paying inflated prices," Dondapati said.

"When supply normalises, premiums disappear and those investors who are investing in silver ETFs right now could take a quick loss."

Silver ETFs have drawn 86.03 billion rupees ($969 million) in inflows during the first eight months of 2025, surpassing last year's total.

Dondapati highlighted three drivers behind the demand surge: silver's relative affordability as gold trades above $4,000 per ounce, booming industrial use in EVs, batteries, solar panels, and data centers, and renewed interest from central banks and institutional investors.

($1 = 88.5930 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru and Rajendra Jadhav in Mumbai)

(([email protected]; +91 9769003463;))

Oct 9 (Reuters) - Kotak Mahindra Asset Management Company (KMAMC) has temporarily suspended fresh lump-sum and switch-in investments into the Kotak Silver ETF Fund of Fund, effective October 10, 2025, the company said in a statement on Thursday.

This is primarily due to a shortage of physical silver in the domestic market that lifted premium sharply above benchmark prices, Kotak said.

The statement added that silver is trading at a premium relative to international prices.

Spot silver XAG= hit a record high of $51.22 per ounce on Thursday, surpassing the $51 per ounce level for the first time.

In India, the world's biggest silver consumer, silver premium over official domestic prices jumped as much as 10% on Thursday because of strong investment demand ahead of a key festival and limited supplies, bullion dealers said.

"Kotak Silver ETF is an open-ended Exchange Traded Fund replicating/tracking price of Silver, which reflects the domestic price of silver. Therefore, the premium in domestic silver prices directly impacts the valuation of the Scheme," the company said.

It added that the suspension is temporary in nature and will continue only until further notice in this regard.

A large number of silver imports are expected to arrive next week, which will increase supply and bring premiums down to more normal levels, said a bullion dealer with a private bank in Mumbai.

(Reporting by Anjana Anil in Bengaluru and Rajendra Jadhav in Mumbai; editing by Diane Craft)

(([email protected];))

** Shares of Kotak Mahindra Bank KTKM.NS rise as much as 1.8% to 2,138.9 rupees, their highest level since late-July

** Last up 0.8%

** Stock among top six gainers on the blue-chip Nifty 50 .NSEI, which is up 0.3% .BO

** Private lender on Saturday said CASA deposits grew 6.2% y/y in Q2

** Total deposits grew 14.6%, as of September 30, which MS analysts see as key positive

** Citi analysts say KTKM's net advances growth at 15.8% surpassed their estimates of 14.7%

** KTKM rated "buy" on avg by 36 analysts, median PT at 2,346 rupees - data compiled by LSEG

** YTD, KTKM up about 19% vs nearly 6% rise in Nifty

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Kotak Mahindra Bank KTKM.NS rise about 2% to 2,104 rupees, their highest in over two months since July 25

** Morgan Stanley says shares are 80% likely to outperform private bank industry .NIFPVTBNK over next 30 days

** Reiterates positive view on KTKM on strong setup and exposure to segments that benefit from macroeconomic recovery such as commercial banking, vehicle finance and unsecured loans

** "After two years of headwinds, the bank is now on the front foot with rising disbursements and stable margins," says Morgan Stanley

** Maintains "overweight" rating at price target of 2,600 rupees, implying a 30% upside

** Target highest among 36 analysts tracking KTKM with an average "buy" rating - data compiled by LSEG

** KTKM up 15.5% YTD, outpacing 9.3% rise in NIFPVTBNK

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Sept 10 (Reuters) -

• JAPAN'S SUMITOMO MITSUI BANKING CORP SELLS 32.2 MILLION SHARES OF KOTAK MAHINDRA BANK VIA BULK DEALS - NSE DATA

• JAPAN'S SUMITOMO MITSUI BANKING CORP SELLS SHARES OF KOTAK MAHINDRA BANK AT 1,940.80 RUPEES EACH - NSE DATA

Further company coverage: KTKM.NS8316.T

(([email protected];))

** Shares of Kotak Mahindra Bank KTKM.NS rise 1.3% to 1,970 rupees

** Stock top gainer in Nifty Bank Index .NSEBANK, which is up 0.2%

** UBS upgrades rating of private lender to "buy" from "neutral", raises PT to 2,450 rupees from 2,300 rupees, implying a 26% upside from last close

** Says strong positioning across multiple sectors, easing margin and credit cost pressures, and superior return metrics are key drivers for the re-rating

** Forecasts a 17% loan compounded annual growth rate over the medium term

** Expects Kotak’s ROA to stay above 2% FY28–29E, aided by lower opex

** KTKM rated "buy" by 35 analysts on average; median target price is 2,345 rupees – data compiled by LSEG

** Stock up 9.8% YTD vs Nifty Bank's 5.8% rise

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

MUMBAI, Aug 19 (Reuters) - India's Kotak Mahindra Prime KTKMP.UL has accepted bids worth 5 billion rupees ($57.5 million) for bonds maturing in five years, three bankers said on Tuesday.

It will pay a coupon of 7.25% and had invited commitment bids for the issue earlier in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 19:

*Size includes base plus greenshoe for some issues

($1 = 86.9940 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected], [email protected]))

MUMBAI, Aug 18 (Reuters) - India's Kotak Mahindra Prime plans to raise 5 billion rupees ($57.2 million) through the sale of bonds maturing in five years, two bankers said on Monday.

It will pay a coupon of 7.25% and has invited commitment bids for the issue on Tuesday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on August 18:

*Size includes base plus greenshoe for some issues

($1 = 87.4037 Indian rupees)

(Reporting by Khushi Malhotra; Editing by Sumana Nandy)

(([email protected]))

Aug 15 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• ONE YEAR MCLR AT 8.60% WITH EFFECT FROM AUG 16

Further company coverage: KTKM.NS

(([email protected];))

Updates for markets close

By Bharath Rajeswaran and Vivek Kumar M

July 28 (Reuters) - Indian shares fell on Monday as financials and IT declined due to weak results from Kotak Mahindra Bank and Tata Consultancy Services' layoff plans, respectively, and as uncertainty over trade talks with the U.S. hit overall sentiment.

The Nifty 50 .NSEI fell 0.63% to 24,680.9 points, and the BSE Sensex .BSESN lost 0.7% to 80,891.02.

The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 lost 1.3% and 0.8%, respectively.

Negotiations between India and the United States remained deadlocked over tariff cuts on agriculture and dairy products, dimming hopes of an interim deal ahead of U.S. President Donald Trump's August 1 deadline.

However, a framework trade agreement between the U.S. and European Union eased fears of a bigger trade war between the two allies, which account for almost a third of global trade.

Thirteen of the 16 major sectors logged losses. High-weightage financials .NIFTYFIN and private banks .NIFPVTBNK lost 0.7% and 1.7%, respectively, dragged by a 7.4% fall in Kotak Mahindra Bank KTKM.NS after it posted a drop in quarterly profit.

The IT index .NIFTYIT lost 0.7%, with Tata Consultancy Services TCS.NS shedding 1.8% after it announced plans to reduce its workforce by 2% in fiscal year 2026.

The Nifty 50 and 30-stock Sensex .BSESN have logged four consecutive weekly losses due to weak earnings, foreign outflows and uncertainty over the U.S.-India trade deal.

"Lingering uncertainty over U.S.-India trade talks, stretched valuations, and a tepid earnings season have clearly sapped market sentiment," said Ajit Banerjee, president and chief investment officer at Shriram Life Insurance.

"In the near term, tariff headlines will drive the market’s pulse, and only a strong earnings turnaround can unlock any meaningful upside."

Among individual stocks, Mphasis MBFL.NS gained 3% after it posted quarterly results in line with estimates and showed strong deal bookings, boosting the IT company's revenue growth outlook.

SBI Cards and Payment Services SBIC.NS lost 6% after missing profit estimates in the June quarter.

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Janane Venkatraman, Eileen Soreng and Mrigank Dhaniwala)

(([email protected];))

MUMBAI, July 26 (Reuters) - Kotak Mahindra Bank KTKM.NS, India's third-largest private lender by market capitalisation, reported a drop in first-quarter profit on Saturday, as it set aside more funds for potential bad loans and saw a contraction in lending margins.

The bank's standalone net profit fell 47.5% to 32.81 billion indian rupees ($379.42 million) for the quarter ended June 30, down from year-earlier 62.5 billion rupees ($722.75 million), which included a 27.3 billion rupee gain on a stake sale of its insurance subsidiary to Zurich Insurance ZURN.S last year.

On average, analysts had expected a profit of 35.82 billion rupees, according to data compiled by LSEG.

The lender's net interest margin, a key gauge of profitability, fell to 4.65%, from 5.02% a year earlier, reflecting the impact of the Reserve Bank of India's recent interest rate cuts.

When rates are lowered, banks typically pass on the benefits to borrowers first and only later reduce deposit rates, which can temporarily squeeze margins.

Meanwhile, Kotak Mahindra Bank's asset quality deteriorated, with the gross non-performing assets ratio at 1.48% at the end of June, versus 1.39% a year earlier.

Indian lenders have kept a tight lid on unsecured lending after grappling with higher bad loans in that segment, a move that has helped support asset quality.

The bank's provisions for bad loans more than doubled year-on-year to 12.08 billion rupees.

Net interest income grew 6% to 72.59 billion rupees in the first quarter.

While credit growth has slowed across the industry, Kotak Mahindra Bank's loan book expanded 13%, driven mainly by a 16% rise in loans to retail consumers.

($1 = 86.4750 Indian rupees)

(Reporting by Ashwin Manikandan; Editing by Sumana Nandy and Jacqueline Wong)

(([email protected];))

MUMBAI, June 30 (Reuters) - India's Kotak Mahindra Investments accepted bids worth 5.5 billion rupees ($64.12 million) for bonds maturing in two years and 19 days, and 3 years, 1 month and 10 days, three bankers said on Monday.

It will pay a coupon of 7.2941% for the 2027 bond and 7.3286% for the 2028 bond, and had invited bids from bankers and investors earlier in the day, they said.

Kotak Mahindra Investments did not respond to a Reuters' request for comment.

Here is the list of deals reported so far on June 30:

*Size includes base plus greenshoe for some issues

($1 = 85.7700 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Eileen Soreng)

(([email protected]; [email protected]))

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, May 22 (Reuters Breakingviews) - Sunil Mehta attempted to draw a line under accounting woes at IndusInd INBK.NS on Wednesday when he presented a full-year update for the bank, which remains without a CEO. The $7 billion Indian lender, the non-executive chairman said, was starting the new financial year with a "clean slate". Some of the details he revealed do not inspire confidence, however.

IndusInd's reversal of interest income on some inappropriately classified microloans dragged it to a net loss of 23.3 billion rupees ($272 million) in the three months to end March, its largest quarterly loss. That coupled with lapses in derivatives accounting reduced its full-year earnings by two-thirds.

This accounts for the full extent of the financial hit from the twin lapses, Mehta said. On the derivatives issue, he also presented some positive findings: the bank has received reports from unnamed external firms that determined the impact was the same as the bank's initial assessment.

If Mehta's overall confidence is not misplaced, the private sector bank is undervalued. IndusInd's crushed shares trade below their one-year forward book value; larger rival Axis Bank AXBK.NS commands a multiple nearly twice its net worth. ICICI ICBK.NS and Kotak Mahindra KTKM.NS enjoy more than three times.

Yet the board suspects employees of fraud, is still working with external advisors to identify the root causes, and IndusInd pointed to the likelihood of future legal action from regulators and investigative agencies. That suggests the fourth quarter may not mark the end of the problems.

Mehta is a grandee of Indian banking, and he oversaw the turnaround of Yes Bank YESB.NS before Japan's Sumitomo Mitsui Banking Corporation agreed to pick up a 20% stake in it this month. Yet the exit of IndusInd's CEO and his deputy has unnerved investors: the shares traded flat on Thursday, underscoring deep scepticism.

Banking analysts were scathing in their assessments too. HDFC Securities said its own channel checks concluded "structurally poor regulatory compliance" and "aggressive booking of fees across multiple businesses, which could come under deeper regulatory scrutiny".

Overall, the current picture keeps alive the possibility the central bank may appoint a state banker to the top role, a level of intervention the monetary authority's new governor Sanjay Malhotra has so far resisted. IndusInd will need to deliver strong results consistently before it wins back the benefit of the doubt.

Follow @ShritamaBose on X

CONTEXT NEWS

IndusInd Bank on May 21 reported a net loss of 23.3 billion rupees ($272 million) for the three months to March on account of interest reversals arising from incorrect classification of some microfinance loans.

A cumulative 1.73 billion rupees was incorrectly recorded as fee income in the nine months to the end of December, and reversed during the quarter ended March 2025, the bank said.

IndusInd's board suspects the occurrence of fraud and the involvement of certain employees that have a significant role in the accounting and financial reporting of the bank.

Sunil Mehta, non-executive chair of IndusInd, said the board is determined to address all identified issues so that they are appropriately resolved.

(Editing by Una Galani; Production by Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

** Shares of Kotak Mahindra Bank KTKM.NS down 3.3% so far this week, on track to log their biggest weekly drop since January 10, if losses hold

** Stock dropped 4.6% on May 5 after co reported a larger-than-expected dip in quarterly profit due to higher provisions for potential bad loans

** Analysts said co's results suggest that credit costs are likely to remain elevated over next two quarters

** Stock rated "buy" on avg, median PT at 2,325 rupees - data compiled by LSEG

** In the week ended January 10, KTKM lost 4.5% after Milind Nagnur resigned as COO and CTO

** KTKM is currently trading 0.5% lower

** Stock has gained ~18% so far this year, while Nifty bank index .NSEBANK up ~5% in the period

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Kotak Mahindra Bank KTKM.NS down 5.2% to 2,070.6 rupees; on track for worst day in more than a year

** Stock biggest drag on Nifty Bank index .NSEBANK, Nifty private bank index .NIFPVTBNK, down 0.41% and 0.94%, respectively

** Lender reports larger-than-expected drop in Q4 profit on higher provisions for potential bad loans

** Analysts at Macquarie say KTKM's commentary suggests credit costs to remain elevated over next two quarters

** Investec analysts say co's loan growth is softer than their estimates; BofA says softer loan growth a 'key disappointment' in results

** Stock rated "buy" on avg, median PT at 2,255.5 rupees - data compiled by LSEG

** KTKM up ~22% YTD, while .NSEBANK, .NIFPVTBNK up 8% and ~11%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Kotak Mahindra Bank Ltd KTKM.NS jump 3.2% to 2,144.05 rupees, their highest since late October 2021

** Private sector bank top gainer on blue-chip Nifty 50 index .NSEI set for its second-best day this year, if gains hold

** KTKM up for a third consecutive session, rising 6% in this period

** Analysts tracking KTKM rate it "Buy" on avg, same as most other stocks on 12-member Nifty Bank .NSEBANK index - LSEG data

** Stock up ~20% this year, second only to Bajaj Finance BJFN.NS on Nifty 50 index

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

** Shares of private lender Kotak Mahindra Bank KTKM.NS rise 2.5% to 1,984 rupees

** Stock second-biggest gainer on the Nifty Bank index .NSEBANK, which is up 0.5%

** Nearly 650,000 shares change hands in multiple block deals - LSEG data

** Block deals in price range of 1,941.60-1,995.30 rupees per share, compared to last close price of 1,935.20 rupees

** Stock is up 11% so far in 2025 vs a 5.5% drop in the bank index

(Reporitng by Nishit Navin)

(([email protected];))

Feb 20 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• KOTAK MAHINDRA BANK - NAMES VYOMESH KAPASI AS NEW HEAD OF PRODUCTS - CONSUMER BANK AT CO

• KOTAK MAHINDRA BANK - NAMES SHAHRUKH TODIWALA AS NEW MD & CEO OF KOTAK MAHINDRA PRIME

Source text: [ID:]

Further company coverage: KTKM.NS

(([email protected];;))