Kolkata: Kotak Mahindra Bank will keep exploring acquisitions alongside organic growth to expand its business, managing director and chief executive officer Ashok Vaswani said in the bank's annual report.
"While our primary focus remains on organic growth, we will continue to pursue inorganic opportunities that enhance scale, capabilities or customer reach, as evidenced by our recent acquisition of Deutsche Bank’s retail portfolio," Vaswani said in his message to shareholders.
Last month, the lender signed a definitive agreement to acquire Deutsche Bank's retail, private banking and wealth management business in India for Rs 282 crore. The acquisition is expected to strengthen Kotak Mahindra Bank's presence in the affluent banking segment and grow its small business lending portfolio.
Vaswani said the bank, with a consolidated balance sheet of more than Rs 10 lakh crore, will also be looking to tap the business opportunities coming with the country's economic expansion.
"The strategy is in place. We have an exceptional depth of leadership talent across the group, our technology foundation is robust and our balance sheet is strong," he said.
Vaswani said India's deeper integration with the global economy, its digital public infrastructure and artificial intelligence as a transformational force are likely to be key growth enablers.
Kotak Mahindra Bank reported a consolidated net profit of Rs 19,103 crore for FY26, with its subsidiaries contributing 27% of the total.
