M&A
Kotak Prime acquires passenger vehicle financing portfolio of Ford Credit
Kotak Mahindra Prime Ltd (Kotak Prime), a subsidiary of Mumbai-based, publicly listed Kotak Mahindra Bank, has acquired the passenger vehicle finance portfolio of Chennai-based Ford Credit India, the Indian financing arm of Ford Motor Company. The acquisition gives Kotak Prime access to over 16,000 high-quality customers with a total loan outstanding of INR 425 crore. Ford Credit has been operating in India since 2015. In September 2021, Kotak Mahindra Group had announced the acquisition of the vehicle financing loan portfolio of Volkswagen Finance Private Ltd, comprising passenger cars, two-wheelers and commercial vehicles.
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