RBI's Digital Lending Crackdown To Dent Kotak's FY25 Profit By Up To INR 450 Cr
India, May 6 -- Kotak Mahindra Bank's digital banking business is expected to see a significant dent in its profit-before-tax (PBT) by INR 300-450 Cr in FY25 in the wake of the Reserve Bank of India's (RBI) regulatory action against the Mumbai lender, said Ashok Vaswani, managing director and chief executive in a post-earnings analyst call.
Vaswani emphasised that the RBI's financial impact on the private lender's business is 'minimal,' noting that only the onboarding of new customers has been barred while existing customers can still access loans or make new deposits.
"We remain fully focused on mitigating the current challenges imposed on Kotak Mahindra Bank's digital lending business. Our focus for this fiscal year will be to deepen ...
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