KOTAKBANK

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

• ONE YEAR MCLR AT 8.4% FROM MAY 16

Further company coverage: KTKM.NS

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

MUMBAI, May 13 (Reuters) - India's Kotak Mahindra Prime [RIC:RIC:KTKMP.UL] has accepted bids worth 5 billion rupees ($52.33 million) in a sale of bonds maturing in four years and 11 months, three bankers said on Wednesday.

The company will pay a coupon of 8%, and had invited commitment bids for the issue on Tuesday, they said.

It did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 13:

* Size includes base plus greenshoe for some issues

($1 = 95.5425 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

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

May 7 (Reuters) - Jammu and Kashmir Bank Ltd JKBK.NS:

• RBI APPROVAL TO KOTAK MAHINDRA BANK FOR ACQUIRING AGGREGATE HOLDING UP TO 9.99% IN JAMMU AND KASHMIR BANK

Source text: ID:nNSE6wPSVX

Further company coverage: JKBK.NS

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

May 6 (Reuters) - HDFC Bank Ltd HDBK.NS:

• RBI APPROVES HDFC BANK GROUP TO BUY UP TO 9.95% IN ICICI AND KOTAK

Source text: ID:nNSE96X61r

Further company coverage: HDBK.NS

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

** Kotak Mahindra Bank KTKM.NS shares fall about 2% to 347.60 rupees

** Bank reported 13.4% y/y Q4 net profit rise, supported by lower provisions and improved asset quality

** However, net interest margin (NIM) was 4.67% vs 4.97% a year ago

MARGIN OUTLOOK, GROWTH MIX WEIGH ON SENTIMENT

** Jefferies ("Buy"; TP: 450 rupees) says profit beat estimates but weaker margin outlook due to rising deposit costs led to earnings cuts

** Nomura ("Buy"; TP: 460 rupees) says cost pressures likely to drag profitability in FY27

** Systematix ("Buy"; TP: 475 rupees) also flags continued pressure on margins into FY27 as higher term deposit rates lift funding costs

** Elara Securities ("Buy"; TP: 473 rupees) says pricing pressures and margin risks warrant a cautious outlook

($1 = 94.8425 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)

((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))

Mumbai, May 2 (Reuters) - India's Kotak Mahindra Bank KTKM.NS reported a jump in fourth-quarter profit that beat estimates on Saturday, supported by strong loan growth and lower provisions for potential bad loans.

The country's third-largest private lender's standalone net profit rose 13% to 40.27 billion rupees for the quarter ended March 31 from last year. Analysts had expected a profit of 37.37 billion rupees, according to data compiled by LSEG.

Loan demand in India gained momentum in the second half of the fiscal year ended in March ​as easing inflation and lower taxes supported household spending and corporate borrowing.

The lender's net advances expanded 16% in the quarter from a year earlier, mainly driven by retail and corporate loans. Total deposits rose by 15%.

Last month, larger peers HDFC Bank HDBK.NS and ICICI Bank ICBK.NS beat profit views aided by strong loan growth.

Net interest income – the difference between interest earned on loans and interest paid on deposits - rose 8% ​to 78.76 billion rupees.

Provisions and contingencies fell 36% quarter-on-quarter and 43% year-on-year to 5.16 billion rupees.

The lender's gross non-performing asset ratio fell to 1.2% at the end of March, from 1.42% in the year-ago quarter.

(Reporting by Ashwin Manikandan, Jayshree P Upadhyay in Mumbai and Nishit Navin in Bangalore; Editing by Harikrishnan Nair and Peter Graff)

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

MUMBAI, April 23 (Reuters) - India's Kotak Mahindra Prime accepted bids worth 7 billion rupees ($74.41 million) in a sale of bonds maturing in three years and two months, three bankers said on Thursday.

It will pay an annual coupon of 7.74% and has invited commitment bids for the issue on Thursday, they said.

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

Here is the list of deals reported so far on April 23:

*Size includes base plus greenshoe for some issues

($1 = 94.0712 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

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

** Kotak Mahindra Bank KTKM.NS falls 2.2% to 350.10 rupees

** Private lender's net advances, total deposits rise 16.2% and 5.5% y/y as of March 31 2026, respectively

** Citi says loan growth slowing slightly vs last quarter, but still tracking longer-term trend

** Adds although deposits grew well, led by current and savings accounts, it still slightly lagged peers

** Stock rated "buy" on avg; median PT is 495 rupees, per data compiled by LSEG

** YTD, KTKM down ~20%

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))

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;))

By Gopika Gopakumar and Aditya Kalra

MUMBAI, March 18 (Reuters) - Standard Chartered STAN.L is reviewing offers from Kotak Mahindra Bank KTKM.NS and Federal Bank FED.NS to acquire the British lender's up to 600,000 customers in India who only have credit card accounts, two sources with knowledge of the matter said.

The potential divestment is part of StanChart's strategy to reduce focus on single-product clients, they said.

The London-based lender has been offloading non-core components of its portfolio in India to improve its profitability. Last year, Standard Chartered sold its India personal loan business that at the time was valued at $488 million to Kotak Mahindra Bank.

Kotak and Federal have submitted final offers for acquiring StanChart's India portfolio of credit-card-only customers, who have no other relationship with the bank and are considered non-core to its business, said the two sources, who declined to be named as the deal talks are private.

The financial details of Kotak and Federal's proposals were not immediately clear.

The Indian lenders and Standard Chartered did not respond to requests for comment.

"StanChart is currently reviewing both of these offers and it is expected to take some time," one of the sources said, adding that the potential sale does not indicate the bank is completely exiting the credit-card business.

The move is linked to the bank's strategy to get rid of "non-core accounts," the person said.

StanChart's plan to sell the portfolio of cards has been reported. But Reuters is first to report that Kotak and Federal are in the race for it.

THE BUSINESS OF CARDS

For the two Indian lenders, acquiring the portfolio could present an opportunity to scale up their credit card base and reduce customer acquisition costs in a competitive market for such products.

Kotak has 4.5 million issued credit cards in India, while Federal has 2 million. That compares with StanChart's 670,000 credit cards in the country.

After the deal, StanChart plans to retain around 70,000 Indian credit card customers, affluent clients who have other banking relationships with the lender, the second source said.

On a call last year, StanChart interim Chief Financial Officer Pete Burrill said the bank was focused on offloading portfolios tied to single products without broader client relationships or those outside the affluent category.

While it is reducing its focus on credit-card-only customers in India, StanChart in January launched an invite-only "Beyond Credit Card" for priority clients, in what it described as its "strategic pivot to the wealth and affluent segment."

StanChart is among several foreign banks that are scaling back their retail operations in India due to stiff competition from local firms.

In 2023, Citigroup C.N exited the market by divesting its India retail franchise to Axis Bank AXBK.NS, while Deutsche Bank DBKGn.DE is exploring a sale of its retail and wealth management business in the country.

StanChart's 2025 annual report said it generated operating income of $1.6 billion from India, which was 7.8% of the bank's total global income.

(Reporting by Gopika Gopakumar and Aditya Kalra; Editing by Thomas Derpinghaus)

((Gopika.Gopakumar@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;))

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)

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

** 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)

((UrviManoj.Dugar@thomsonreuters.com;))

By Gopika Gopakumar

MUMBAI, Jan 23 (Reuters) - India's Kotak Mahindra Bank KTKM.NS reported an increase in third-quarter profit on Saturday, supported by strong loan growth and lower provisions set aside for potential bad loans on a sequential basis.

The country's third-largest private lender by market capitalisation said standalone net profit rose 4.2% to 34.46 billion rupees ($376 million) for the three months ended December.

Analysts had expected a profit of 35.72 billion rupees, according to data compiled by LSEG.

Indian lenders reported double-digit loan growth in the October–to-December period following several quarters of slower growth, supported by spending linked to the local festive season and sweeping consumption tax cuts.

Kotak Mahindra Bank's net interest income, the difference between interest earned on loans and paid on deposits, rose 5% to 75 billion rupees.

Its provisions and contingencies fell 15% quarter-on-quarter to 8.1 billion rupees. However, they were still up 2% from a year earlier.

The lender's gross non-performing asset ratio fell to 1.3% at the end of December, from 1.39% three months earlier and 1.5% in the year-ago quarter.

Net interest margins remained flat at 4.54%.

The Reserve Bank of India has reduced its benchmark interest rate by a cumulative 125 basis points since February 2025 to spur consumption and investment, with the latest cut coming in December 2025.

Lenders typically pass on the benefit to borrowers quickly by cutting lending rates, while deposit rates adjust with a lag — squeezing their net interest margins in the interim.

($1 = 91.6550 Indian rupees)

(Reporting by Gopika Gopakumar; Editing by Joe Bavier)

((Gopika.Gopakumar@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;))