New Delhi: Kotak Bank has expressed its intention to buy Laxmi Vilas Bank. Kotak Mahindra Bank has also submitted its proposal to RBI for this purchase. According to sources, Kotak Bank is also in talks with other investors for this. Kotak Mahindra Bank, however, declined to comment on the news.
According to sources, Kotak Bank has been involved late in the race and is considering acquiring majority stake in Lakshmi Vilas Bank. Kotak Bank is looking for other strategic and private equity investors to be involved in this purchase. If this deal is done then Kotak Bank’s feet in South India will become stronger.
