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Kotak Mahindra Bank: A Leading Indian Financial Services Provider Kotak Mahindra Bank Limited, headquartered in Mumbai, is a prominent player in India's banking and financial services sector. Established as a financial services company, it has expanded its offerings to encompass a wide range of products and services catering to both corporate and retail clientele. Its services span personal finance, providing individuals with a variety of banking solutions, to sophisticated investment banking services for corporations. Further bolstering its comprehensive portfolio are offerings in life insurance and wealth management, catering to diverse financial needs. As of December 2023, the bank's extensive network comprises 1,869 branches and 3,239 ATMs, signifying its considerable reach across the country. The inclusion of branches in GIFT City, India's International Financial Services Centre, and the Dubai International Financial Centre (DIFC) underlines its global ambitions and commitment to international markets. Kotak Mahindra Bank's substantial branch and ATM network, coupled with its diverse financial services, positions it as a key player within India's rapidly evolving financial landscape.

Image Source : Wikipedia

Company type Public
Industry Financial services
Founded 6 February 2003
Founders Uday Kotak
Headquarters Mumbai, Maharashtra, India
Key people Uday Kotak,
Services Consumer banking, Commercial banking, Insurance, Credit cards, Investment banking, Mortgage loans, Private banking, Private equity, Investment management, Asset management, Wealth management, Stockbroking
Revenue ₹94,274 crore (US$11 billion) (2024)
Net income ₹18,213 crore (US$2.1 billion) (2024)
Number of employees 116,000+ (March 2024)
Subsidiaries Kotak Mahindra General Insurance, Kotak Life Insurance, Kotak Mahindra AMC, Kotak Securities, Kotak Mahindra Prime
Website www.kotak.com

Related Other Pages:

HDFC,

ICICI Bank and

State Bank Of India

Kotak Mahindra Bank history

Last Updated : 23/03/25, 07:45 PM

Kotak Mahindra Bank: A Trajectory of Growth Kotak Mahindra Bank's journey began in 1985 with Uday Kotak founding Kotak Capital Management Finance Limited, bootstrapped with a modest loan. Early investments from Anand and Harish Mahindra solidified the foundation, leading to the company's renaming as Kotak Mahindra Finance. Initial operations focused on bill discounting and lease financing, diversifying into car financing and investment banking in the 1990s. Strategic partnerships with Ford Credit International and Goldman Sachs marked significant milestones, culminating in the establishment of Kotak Mahindra AMC (1998) and OM Kotak Mahindra Life Insurance (2001). A pivotal moment arrived in 2003 when Kotak Mahindra Finance secured a banking license, becoming India's first NBFC-turned-bank. Subsequent acquisitions, including Ford Credit's stake in Kotak Mahindra Primus (2005) and Goldman Sachs' shares in Kotak Mahindra Capital and Kotak Securities (2006), consolidated the group's holdings. Further expansion involved acquiring a major stake in Multi Commodity Exchange (2014) and the significant merger with ING Vysya Bank (2015), substantially increasing its employee base and branch network. The launch of Kotak 811 online savings account (2017) propelled customer growth. Strategic moves included the acquisition of Old Mutual's stake in the life insurance arm and subsequent divestments in Airtel Payments Bank (2021). Recent years saw acquisitions of various financing portfolios, culminating in the purchase of Sonata Finance (2023) and a majority stake sale in Kotak Mahindra General Insurance to Zurich Insurance Group (2024). This demonstrates Kotak Mahindra Bank's consistent expansion and strategic acquisitions across diverse financial sectors.