Kotak Mahindra Bank acquires Barclays India's SME lending business
- Trouble mounts for Sreesanth as Mumbai cops gather more evidence
- SIT to seek Supreme Court guidance on Maya Kodnani death penalty issue
- Tamil Nadu police bans Yasin Malik-linked pro-Eelam public meeting
- Kings XI Punjab end IPL 2013 campaign with a win
- Narendra Modi: India losing sheen as agricultural nation
When asked whether the deal also involves human assets from Barclays, Parambi said it involves only the loan book as Kotak's existing staff can handle the additional portfolio.
A Barclays spokesperson also did not comment on the status of the staff of the divested business.
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.
The bank's net interest margin, a key gauge of profitability, however, declined slightly to 4.6 per cent in the third quarter from 4.7 per cent a year ago while bad loans rose to 0.53 per cent from 0.41 per cent a year earlier.
Net NPAs stood at Rs 364.80 crore from Rs 246.53 crore a year ago.
- Quake-hit and shaken, Bhaderwah spends nights in the open
- UP blast accused dies on way to jail, govt wanted to drop case against him
- Former civil aviation secy changes mind, seeks airport security exemption as EC
- BCCI suspects Gujarat players in other teams were also approached
- Police on money trail, Sreesanth in fresh trouble
- Chhattisgarh 'encounter' leaves 8 villagers dead, no Maoist link yet