Shares of Kotak Mahindra Bank Ltd rose 1.5% to touch a day’s high of Rs 2,026 on 18th August, after the bank announced it had received a license from the UAE capital markets regulator to operate investment funds and provide portfolio management services.

Kotak Mahindra International has become the first Indian firm to receive a license from the UAE’s Securities and Commodities Authority (SCA). This marks a significant step in the expansion of cross-border financial services. With this approval, the company will launch UAE-domiciled funds for retail investors. This further strengthens the UAE’s role as an economic and investment hub.

Shyam Kumar, President and Head of Kotak International, stated that the license will enable UAE investors to access India-focused strategies. They will benefit from India’s robust economic momentum. The company plans to roll out India-centric funds aligned with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies. Subscriptions will open in the final quarter of 2025.

Separately, Kotak Mahindra Bank recently reported robust Q1 FY26 results. Total advances rose 14% year-over-year and 4.2% quarter-over-quarter. They reached Rs 4.45 lakh crore, while deposits grew 14.6% YoY and 2.8% QoQ to Rs 5.13 lakh crore.

At 1:29 PM, the shares of Kotak Mahindra Bank were trading 1.28% higher at Rs 2,003.60 on NSE.

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