Kotak Mahindra Bank on Friday said it had acquired the agri and healthcare equipment financing portfolio of De Lage Landen Financial Services India (DLL India), a subsidiary of De Lage Landen International that is owned by Rabobank.

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"The operations of DLL India acquired portfolio will be transitioned to Kotak Mahindra Bank in a planned manner over the next few months. Until the transition, the portfolio will continue to be managed by DLL India," the bank said in an exchange filing.

With this acquisition, Kotak will gain access to over 25,000 high-quality customers with a total standard loan outstanding of around Rs 582 crore. In addition to the standard loans portfolio, Kotak has also acquired the non-performing assets portfolio with a total loan outstanding of around Rs 69 crore, it said.

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D Kannan, group president – commercial banking, Kotak Mahindra Bank said DLL India had been operating in the country since 2013 and has built a strong customer portfolio.

"Kotak's acquisition of DLL India's portfolio reiterates our continued commitment towards a strong presence in this space and gives us access to a high-quality customer base," he said.

Abhishek Mudgal, country manager of DLL India, said, "In the last nine years of our operations in India, with our proficient services of global standards, we were able to establish an excellent quality customer base in India."

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He said DLL India was glad to transfer its portfolio and customer base in India to "the capable and experienced hands of Kotak Mahindra Bank, who we believe will fully support our philosophy of delivering sustainable financial solutions and high-quality services to the customers".

KPMG acted as the exclusive financial advisor to the shareholders of DLL India for this transaction of portfolio sale to Kotak Mahindra Bank.

Shares of Kotak Mahindra Bank ended at Rs 1,746.50, up by Rs 7.35, or 0.42 percent on the BSE.