KOTAKBANK

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

• KMIL TO STOP NEW LOAN SANCTIONING FROM APRIL 1, 2026; TO SERVICE EXISTING FACILITIES

• BUSINESS ACTIVITIES OF KOTAK MAHINDRA INVESTMENTS WILL BE CONDUCTED DEPARTMENTALLY WITHIN BANK

Source text: ID:nNSE9ClvtM

Further company coverage: KTKM.NS

((Reuters.Briefs@thomsonreuters.com;))

March 23 (Reuters) - India's Kotak Mahindra Bank is set to acquire Deutsche Bank's India retail business in a deal estimated at about 45 billion rupees ($480.3 million), the Economic Times reported on Monday, citing multiple people familiar with the matter.

Kotak KTKM.NS was chosen as the preferred bidder over Federal Bank FED.NS, the newspaper said, adding that the deal could be announced as early as next week and that the final price may be adjusted at closing.

Deutsche Bank DBKGn.DE and Kotak Mahindra Bank did not immediately respond to Reuters' requests for comment.

In 2022, Citi sold its credit card and retail businesses for more than $1 billion as it exited certain global consumer units over shrinking market share. Last year, Standard Chartered sold its India personal loan portfolio of $488 million to Kotak Mahindra Bank.

Deutsche Bank wants to exit its India retail banking operations, which spans 17 branches, sources told Reuters last year.

The lender's retail banking revenue in India for the financial year ended March 31, 2025 stood at $278.3 million, per its disclosures.

($1 = 93.6850 Indian rupees)

(Reporting by Urvi Dugar in Bengaluru; Editing by Sumana Nandy)

((UrviManoj.Dugar@thomsonreuters.com; +91 9558725583;))

March 21 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• KOTAK MAHINDRA BANK - KMCC TO SELL PART OF INFINA STAKE FOR RS. 12.94 BILLION

Source text: ID:nBSE9vqmbP

Further company coverage: KTKM.NS

((Reuters.Briefs@thomsonreuters.com;))

MUMBAI, March 18 (Reuters) - Indian billionaire Mukesh Ambani's Reliance Jio Platforms has hired 17 banks to manage its Mumbai stock listing, which will see the company raise no new funds and allow exits for some shareholders, four sources familiar with the matter said.

The IPO will be executed as a so-called "offer for sale" in India, three of the sources said, where only existing shareholders sell their shareholding to public.

Reliance did not respond to Reuters queries.

Over the past six years, Jio has diversified into artificial intelligence and raised funds from well-known investors including KKR KKR.N, General Atlantic, Silver Lake and the Abu Dhabi Investment Authority.

(Reporting by Vibhuti Sharma and Jayshree P Upadhyay in Mumbai and Aditya Kalra in Delhi; Editing by Sumeet Chatterjee and Joe Bavier)

((Vibhuti.Sharma@thomsonreuters.com;))

March 17 (Reuters) - GNG Electronics Ltd GNGL.NS:

• ENTERS SUPPLEMENTAL AGREEMENT WITH KOTAK MAHINDRA BANK ON MARCH 16, 2026

• SIZE OF AGREEMENT IS 750 MILLION RUPEES

Source text: ID:nNSE81nF4r

Further company coverage: GNGL.NS

((Reuters.Briefs@thomsonreuters.com;;))

-- Source link: https://tinyurl.com/3bd4mymn

-- Note: Reuters has not verified this story and does not vouch for its accuracy

((globalnewsmonitoring@thomsonreuters.com))

Recasts throughout, changes sourcing

March 13 (Reuters) - India will shelve the bids it received for a majority stake sale in IDBI Bank IDBI.NS, as the offers received were below the government's minimum price expectation, a government source told Reuters.

The Indian government and state-owned Life Insurance Corporation of India LIFI.NS had initiated the process to sell 60.7% of the lender in 2022.

India's government owns 45.48% of IDBI Bank, while LIC holds 49.24%.

The existing sale process would be scrapped as the bids received were below the so-called reserve price, or the minimum sale price, set for the sale, the source said.

Bloomberg News reported the development first.

The government may initiate a fresh process when the market appetite improves and there is strong interest among buyers, the source added.

IDBI Bank and India's finance ministry didn't immediately respond to a Reuters request for comment outside regular business hours.

Reuters had reported that the planned sale of IDBI Bank had attracted bids from Canadian investment group Fairfax Financial FFH.TO and Emirates NBD ENBD.DU.

Tepid interest in acquiring the lender controlled by LIC contrasts with strong foreign investor appetite underscored by Dubai-based Emirates NBD's ENBD.DU $3 billion purchase of a 60% stake in RBL Bank RATB.NS and Sumitomo Mitsui Banking Corp's acquisition of a 24% stake in Yes Bank YESB.NS.

(Reporting by Nikunj Ohri and Anna Peverieri; Editing by Louise Heavens)

((Anna.Peverieri@thomsonreuters.com;))

March 6 (Reuters) - Kotak Mahindra Bank Ltd KTKM.NS:

• RBI APPROVED APPOINTMENT OF ANUP KUMAR SAHA ON BOARD OF BANK

Further company coverage: KTKM.NS

((Reuters.Briefs@thomsonreuters.com;;))

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)

((Ira.Dugal@thomsonreuters.com; +91-9833024892;))

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 as part of the disinvestment process relating to IDBI Bank IDBI.NS.

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

(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)

((shilpa.jamkhandikar@thomsonreuters.com;))

Updates stock price, adds details from paragraph 3 onwards

By Vivek Kumar M

Jan 27 (Reuters) - India's Axis Bank AXBK.NS jumped nearly 6% on Tuesday and was on course for its biggest daily percentage rise in 15 months after the private lender reported a surprise rise in quarterly profit on healthy loan growth.

The stock jumped to a 18-month high of 1,332 rupees.

The private lender posted a 3% rise in net profit for the three months ended December 31, while analysts had expected profit to fall, according to data compiled by LSEG, with retail loan disbursements up in the quarter.

Brokerage Citi upgraded the stock to "buy" from "neutral" after the strong third-quarter earnings, citing enhanced visibility on loan growth outperforming the system average and improved asset quality trajectory.

Axis Bank was the top gainer among benchmark Nifty 50 .NSEI index and financials .NIFTYFIN on the day. The 50-stock index was down 0.2% and financials were flat, as gains in Axis Bank were offset by Kotak Mahindra Bank's KTKM.NS 3.9% fall.

The rise in Axis Bank's shares was supported by strong volumes. More than 11.7 million shares changed hands in the couple of hours since the market's open on the day, about 2.4x the 30-day average daily volume.

While the lender's credit costs were largely flat from previous quarter, Macquarie said it should be seen as a positive considering the increase in both normal and technical slippages attributable to the agri seasonality.

"We believe credit cost could decline in the coming quarters and provide further cushion to return on assets," Macquarie said.

(Reporting by Vivek Kumar M; Editing by Janane Venkatraman)

((VivekKumar.M@thomsonreuters.com;))

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

((Reuters.Briefs@thomsonreuters.com;))

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)

((Gopika.Gopakumar@thomsonreuters.com;))

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)

((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))

Jan 13 (Reuters) - India's Kotak Mahindra Bank KTKM.NS on Tuesday said it would consider passing an enabling resolution to raise funds by issuing non-convertible debentures on a private placement basis, in one or more tranches, in fiscal year 2027.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman)

((Hritam.Mukherjee@thomsonreuters.com; X: @MukherjeeHritam;))

MUMBAI, Jan 12 (Reuters) - India's Kotak Mahindra Prime KTKMP.UL plans to raise up to 6 billion rupees ($66.53 million), including a greenshoe option of 1 billion rupees, through the sale of bonds maturing in five years, three bankers said on Monday.

It has invited coupon and commitment bids for the issue later in the day, they said.

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

Here is the list of deals reported so far on January 12:

* Size includes base plus greenshoe for some issues

($1 = 90.1800 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))

Adds Kotak Mahindra Bank's loan growth number in paragraph 10, shares as of close in paragraph 6; changes media packaging code

Jan 5 (Reuters) - Indian lenders such as HDFC Bank HDBK.NS, Kotak Mahindra Bank KTKM.NS and Bank of Baroda BOB.NS logged improved loan growth in the December quarter, data showed, signalling a rebound in credit demand in the world's fastest-growing major economy.

Overall loan growth had slowed sharply in mid-2025 due in part to stricter regulations, but recovered strongly since, with analysts citing festive period spending and the government's consumption tax cuts among factors pushing up growth.

Growth in bank credit decelerated to 9.9% year-on-year in the quarter ended June, data from central bank reports showed, from 11.1% in the quarter ended March. It grew 11.5% in November, the latest monthly data available showed.

"Overall systemic credit growth is showing signs of improvement, at 11.4% year-on-year now from a low of about 9% in May 2025," said brokerage Emkay in a note.

Within retail credit, secured gold loans and vehicle financing are emerging as key growth engines for now, Emkay added.

Since October, the Nifty Bank index .NSEBANK gained more than 10%, while the broader benchmark Nifty 50 .NSEI rose 7%. On Monday, the banking sub-index gave up initial gains to close 0.2% lower, against a 0.3% drop in Nifty 50.

Gross loans at HDFC Bank, India's top private lender, rose 11.9% in the December quarter, outpacing growth of 9.9% and 6.7% in quarters ended September and June, respectively.

The bank merged with its parent HDFC in July 2023, adding a significant pool of loans but a smaller volume of deposits. This created pressure for the lender to either raise deposits or ease loan growth.

Kotak Mahindra Bank reported a 16% rise in net advances for the quarter ended December 31 - its fastest growth so far in the current financial year. State-run Bank of Baroda's loan growth also rose, with global advances rising 14.6% as of December-end, up from 11.9% at the end of September and 12.6% at June-end.

Smaller peers CSB Bank CSBB.NS reported a 29% increase in gross advances in the quarter, while AU Small Finance Bank's AUFI.NS loans were up 24% in the same period.

Other marquee names such as ICICI Bank ICBK.NS, Axis Bank AXBK.NS and State Bank of India SBI.NS are yet to report numbers.

"Loan growth and deposit growth gap is widening again... and loan-to-deposit ratio at 81.6% is now at an all-time high," said Macquarie Research.

A persistent gap can inhibit banks' ability to cut deposit rates, the brokerage said.

($1 = 89.9940 Indian rupees)

(Reporting by Hritam Mukherjee, Meenakshi Maidas and Nishit Navin; Editing by Sherry Jacob-Phillips, Janane Venkatraman and Harikrishnan Nair)

((Nishit.Navin@thomsonreuters.com;))

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

(Reuters.Briefs@thomsonreuters.com)

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)

((bharath.rajeswaran@thomsonreuters.com; +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)

((Anjana.Anil@thomsonreuters.com;))

** 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)

((Manvi.Pant@thomsonreuters.com; +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)

((bharath.rajeswaran@thomsonreuters.com; +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

((Reutersbriefs@thomsonreuters.com;))

** 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)

((rudrapratap.singh@thomsonreuters.com))

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)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

By Luke Tyson

Aug 18 (Reuters) - Kotak International, the global arm of India's third-largest private lender Kotak Mahindra KTKM.NS, said on Monday it has been given a licence by the United Arab Emirates (UAE) to sell investment funds and portfolios to onshore retail investors.

Kotak is the first Indian firm to receive a licence from the UAE's Securities & Commodities Authority, as more UAE investors show interest in Indian markets.

The firm plans to launch its first India-focused retail funds in the Gulf country by the final quarter of 2025.

"India has got a story which is extremely wide and diversified," Shyam Kumar, Kotak International's president, told Reuters, noting this makes it appealing to foreign investors.

"You have a very young population, working population, so that makes it very strong and resilient in terms of economic growth."

Unlike India, the UAE does not tax personal income or capital gains on fund returns, making the country an attractive base for global investors.

While Kotak has previously engaged UAE-based investors via wealth managers and insurance platforms, its new licence enables the firm to directly solicit investments from retail clients, moving beyond traditional high-net-worth clientele.

"It really expands the scope," Kumar said, noting clients will now be able to access Kotak's funds with a minimum investment of around $500.

Indian nationals are the largest expatriate community in the UAE, representing roughly 35% of the population.

They're also the top foreign investors in Dubai real estate, purchasing over 35 billion dirham ($9.53 billion) of property in the emirate last year, according to real estate agency Aeon & Trisl.

While Kumar noted the importance of the Indian population in Kotak’s UAE expansion strategy, he said the firm has a broader goal of attracting investors in the country beyond the diaspora.

Kotak's move to court retail investors comes amid a deepening financial integration between India and the UAE.

In July, Indian Prime Minister Narendra Modi made his seventh visit to the Gulf nation, where he signed key agreements to link India's digital payment system to the UAE and boost bilateral trade.

($1 = 3.6727 UAE dirham)

(Reporting by Luke Tyson; Editing by Hadeel Al Sayegh and Elaine Hardcastle)

((Luke.Tyson@thomsonreuters.com;))

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

((Reuters.Briefs@thomsonreuters.com;))

July 28 (Reuters) - India's Kotak Mahindra Bank KTKM.NS falls 5% on Monday after the lender's quarterly results missed market expectations, sparking concerns of deteriorating asset quality.

The stock was the top laggard on the Nifty Bank index .NSEBANK and Nifty Private Bank index .NIFPVTBNK, which were trading 0.5% and 1.1% lower. It was also the top percentage loser on the benchmark Nifty 50 .NSEI, which eased 0.4%.

On Saturday, Kotak reported a drop in first-quarter profit, as it set aside more funds for potential bad loans and its gross non-performing assets ratio worsened to 1.48% at the end of June, versus 1.39% a year earlier.

At least eight analysts slashed their price targets on the "buy"-rated stock, reducing its median target to 2,340 rupees from 2,350 rupees last month, as per data compiled by LSEG.

(Reporting by Kashish Tandon in Bengaluru; Editing by Sumana Nandy)

((Kashish.Tandon@thomsonreuters.com; 8800437922;))