Kotak Mahindra Bank Acquires Sonata Finance for ₹537 Crore

Kotak Mahindra Bank acquires 100% stake in microlender Sonata Finance for ₹537 crore. The acquisition marks a strategic move for Kotak Mahindra Bank to expand its presence in semi-urban and rural areas in northern India. During the quarter ending December 2023, Kotak Mahindra Bank reported an 8% year-on-year surge in net profit, amounting to ₹3,005 crore.