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Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. In February 2003, Reserve Bank of India (RBI) gave the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.[3]

Kotak Mahindra Banking Group plc
Private sector Bank
Traded as BSE500247
NSEKOTAKBANK
Industry Banking, Financial service
Founded 1985 (as Kotak Mahindra Finance Ltd)
Headquarters Mumbai, India
Key people
  • Uday Kotak (Founder & Executive Vice Chairman & MD)
  • Dipak Gupta (Joint MD)
  • Jaimin Bhatt (President & Group CFO)
  • Shanti Ekambaram (President - Consumer Banking)
  • KVS Manian (President - Corporate, Investment & Institutional Banking)
  • Mohan Shenoi (Chief Operating Officer)
  • Gaurang Shah (President - Asset Management, Insurance and International Business)
  • D Kannan (Group Head - Commercial Banking)
  • Arvind Kathpalia (President &Group Chief Risk Officer)
Products Deposit accounts, Loans, Investment services
Revenue Increase27,974.52 crore (US$4.4 billion)(2016)[1]
Increase3,431.12 crore (US$540 million)(2016)
Total assets US$15.8 billion(2015)
Number of employees
46,500+ [2] (2016)
Website www.kotak.com

It offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

Kotak Mahindra Bank Terriest has a network of 1,369 branches across 689 locations and 2,163 ATMs in the country (as of 31 March, 2017).[4] In 2016, it was the fourth largest private bank in India by market capitalization.[5]t

Contents

HistoryEdit

In 1985 by Uday Kotak established what became an Indian financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (Kmb)ltd.

In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine (from The Financial Times Stable), KMBL was ranked 245th among the world's top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+.[6][7] and merge with ING Vysya bank in 2015

Merger with ING Vysya BankEdit

In 2014, Kotak Bank acquired ING Vysya Bank in a deal valued at 15,000 crore (US$2.3 billion). With the merger, total employment will jump to almost 40,000, and the count of branches reached 1261.[8] Post the merger, ING Group, which controlled ING Vysya Bank, will own a 7% share in Kotak Mahindra Bank.[9]

ReferencesEdit

  1. ^ "Kotak Mahindra Bank Results". EarningsIndia. Retrieved 21 July 2016. 
  2. ^ "Annual Report 2015 - 16" (PDF). Kotak. Retrieved 2017-07-13. 
  3. ^ "About Us". www.kotak.com. Retrieved 2015-12-03. 
  4. ^ "KOTAK MAHINDRA BANK ANNOUNCES RESULTS" (PDF). www.kotak.com. Retrieved 2016-10-26. 
  5. ^ "Top Banks - Private Sector Companies in India, Top Banks - Private Sector Stocks in India by Market Capitalization, List of Top Banks - Private Sector Stocks in India {2016} - BSE". www.moneycontrol.com. 
  6. ^ "Top banks on a slide; smaller peers do better: Brand Finance study - The Smart Investor". Retrieved 3 September 2015. 
  7. ^ The Banker. "The Banker - The Banker". Retrieved 3 September 2015. 
  8. ^ "Kotak Bank acquires ING Vysya for INR 15,000 crore". The Hindu. Mumbai. 20 November 2014. Retrieved 15 April 2015. 
  9. ^ "ING Vysya staff seek job surety from Kotak". business-standard.com. BusinessStandard. 6 December 2014. Retrieved 15 April 2015. 

External linksEdit