Last day Kotak Mahindra Bank acquired ING vysya bank. Kotak Mahindra is a well developing bank of the nation with a huge network of 641 branches. After acquiring the ING bank, Kotak Mahindra bank will have add 573 more branches of ING Vysya Bank.
ING vysya bank also had a great banking presence in south with a mixture of rural as well urban branches. Kotak Mahindra has a major presence in metro cities; this merger will help the bank to bank in rural areas as well. In the past couple of quarters, Kotak Bank’s loan growth has been led by the corporate, small businesses, personal loans and agriculture segments. The merger of the two banks will enhance the CASA profile.