Kotak Mahindra Prime buys PV financing portfolio of Ford Credit

Kotak Mahindra Prime Limited (Kotak Prime), a subsidiary of Kotak Mahindra Bank Limited, has acquired the passenger vehicle (PV) finance portfolio of Ford Credit India Private Limited (FCIPL).

Kotak Mahindra Prime Limited (Kotak Prime), a subsidiary of Kotak Mahindra Bank Limited, has acquired the passenger vehicle (PV) finance portfolio of Ford Credit India Private Limited (FCIPL), the Indian captive financing arm of Ford Motor Company. FCIPL has been operating in India since 2015. The acquisition gives Kotak Prime access to over 16,000 high-quality customers with a total loan outstanding of Rs. 425 crore.