IndusInd Bank denies takeover talks with Kotak Mahindra Bank

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 Private lender IndusInd Bank NSE -0.10 % denied having any exploratory takeover talks with peer Kotak Mahindra Bank NSE -0.72 % and said the former has unstinted support from its promoters, the Hinduja family. Earlier in the day news agency Bloomberg had reported that Kotak Mahindra Bank is exploring a takeover of smaller rival IndusInd Bank to create the nation’s eighth-largest financial firm by assets.

            “IndusInd Bank categorically denies any such developments, its malicious and incorrect,” the bank said in an email response. “The Promoter of IndusInd Bank, IndusInd International Holdings Limited (IIHL), reiterate their full support to the IndusInd Bank, now and always.”

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