Kotak Mahindra Bank acquires Barclays India's SME lending business

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Kotak acquires business worth about Rs 700 crore for an undisclosed amount. (Reuters) Kotak acquires business worth about Rs 700 crore for an undisclosed amount. (Reuters)
SummaryKotak acquires business worth about Rs 700 crore for an undisclosed amount.

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.

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