Kotak Mahindra Bank Purchases Barclays? Portfolio Worth Rs. 250-300 Cr
February 1, 2012 Mumbai: Kotak Mahindra bank Barclays Bank credit card business in India non-performing portfolio acquired deal, experts said, is stressed in the credit markets to speed that was launched in 2007 a dry run stringent regulatory rules have been selling land.
Kotak has acquired portfolio have around 250-300 crore and almost 200,000 card to include private sector lender home. rebuilding the team in asset recovery will be responsible for these outstanding accounts.
Last month, Standard Chartered Bank Barclays ' credit card business in India. in performance of purchased retail property portfolio Barclays India decided to pull out of the business and its retail loan portfolio for RS 3,000 crore is looking for buyers.
Deal value was not immediately known, the banks, while in India the RBI to comply with the guidelines on property sales.
RBI guidelines in October, while non-performing assets sales net present value projected cash flow net recovery of cost of net price securities associated with the release of 2007 banks to work out, usually, as per. selling price should be not less than the net present value.
Banks in India once again its credit card business after nearly three years of aggressive expansion gaps.
After it bought Standard Chartered Bank from Barclays 170.000 credit card credit card provider's fifth largest foreign lender's book value in the country., which is around 180-200 million rupees was estimated to have a huge discount on this portfolio for acquisition.
IndusInd Bank acquisitions in transactions 2011 Deutsche Bank's credit card business credit card after the second buy-out in space.
IndusInd bank lender Deutsche Bank 200,000 cards portfolio overseas and operating platform, technology, staff purchased. "June 1, 2011 on IndusInd credit card and portfolio of purpose private Bank launched the RS 800-900 million-point within three years.
"We have three to four years, the credit card industry's bloodbath and beyond are now once again ready to take away. This is a high risk, high reward business, and we feel that if we are to properly manage risks, rewards will be high now," ramesh Sobti, MD and IndusInd Bank Posted an interview with the CEO of card business in the business standard said.
Even the established players in the growing offensive operation of your credit cards have changed.
HDFC Bank, India, the largest issuer of credit cards in the next pair of years to twice its collection. The Bank, which has two million cards, 5.05, his female customers in 10 million to two million cards to your portfolio, including touch.
The Bank is also uber-rich community, a condition of American Express ' card ' against, or Amex cards Infinia last year.
Bankers said that unlike last time, there won't be a significant erosion of the banks ' asset quality, since expansion strategies from borrowers credit history Credit Bureau information supported by the rich.
September, 2011 in 17.6 million for eight months for the first time in the industry. the outstanding number of cards number of cards around the same level since then.
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