RBI OKs Kotak Mahindra Bank to acquire up to 9.99% stake in City Union Bk
This story was originally published at 16:55 IST on 7 May 2026
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--RBI OKs Kotak Mahindra Bank to acquire up to 9.99% stake in City Union Bk
MUMBAI – The Reserve Bank of India has allowed Kotak Mahindra Bank Ltd. to acquire up to 9.99% of the total paid-up share capital in City Union Bank ltd., the latter informed exchanges Thursday. The approval granted by the central bank is subject to compliance with RBI's directions, along with other regulations and guidelines.
For the March quarter, City Union Bank reported a consolidated net profit of INR 3.60 billion, up nearly 25% on year. Shares of the bank Thursday closed marginally lower at INR 270.85 on the National Stock Exchange. End
Reported by Janwee Prajapati
Edited by Avishek Dutta
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