Kotak Mahindra Bank was founded in 1985 by Uday Kotak. The private sector bank is headquartered in Mumbai. It offers financial services and banking products for retail and corporate customers. It services include personal finance, life insurance, investment banking, and wealth management among others.
It operates a network of 1600 domestic banking branches and 2519 ATMs cross India.
Listing and Revenue
Kotak Mahindra Bank is listed on both BSE and NSE.
|Revenue||₹ 33,665 crore|
|Operating Income||₹ 13,715 crore|
|Net Income||₹ 8,593 crore|
|Total Assets||₹ 4,43,173 crore|
Products and Services
It offers a wide range of banking and financial services including investment banking, personal banking, general insurance, debit card, credit card, life insurance, asset management, and wealth management among others.
In 1985 Uday Kotak founded Kotak Mahindra Finance Ltd. (KMFL). It received a banking license in February 2003 from the RBI. This made KMFL the first non-banking finance organization of India that was converted into a bank.
Kotak Mahindra Bank was ranked 245th among the top 500 banks of the world by study conducted by Brand Finance Banking in 2014. It has a brand valuation of around half a billion dollars and brand rating of AA+.
In 2015, Kotak Bank took over ING Vysya Bank at a valuation of ₹150 billion (US$2.1 billion). After the merger, ING group earned a share of 7% in the the Kotak Mahindra Bank.
Awards and Recognitions
Kotak Mahindra Bank was awarded as the Best Domestic Bank at the AsiaMoney Best Bank Awards in 2019, The Asian Banker - Banker’s Choice Awards, Best Mid-Size Bank in 2019, Best Cash Management Bank in India, Best E-commerce Initiative, Application or Programme: “Kotak ALLPAY”, Best Supplier Relationship Management in India: Kotak Mahindra, and Shekhar Bhandari as The Transaction Banker of the Year in Asia Pacific 2 among others.
Kotak Mahindra Bank's subsidiaries include Kotak Mahindra Prime Limited, Kotak Securities Limited, Kotak Mahindra Life Insurance Company Limited, Kotak Mahindra Capital Company, Kotak Mahindra Investments Limited, Kotak Mahindra Asset Management Co. Limited, Kotak Mahindra General Insurance Company Limited, Kotak Mahindra Trustee Company Limited, Kotak Mahindra Pension Fund Limited, Kotak Mahindra (International) Limited, and others.