Bank was first established as a Non Banking Financial Company and had a tie-up with Mahindra & Mahindra for the purpose of vehicle financing and was named Kotak Mahindra Finance back then. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval created banking history since Kotak Mahindra Finance Ltd. is the first non–banking finance company in India to convert itself into a bank as Kotak Mahindra Bank Ltd. Major Subsidiaries of the bank are Kotak Mahindra Prime, Kotak Mahindra Investments, Kotak Securities, Kotak Mahindra Capital, Kotak Mahindra Life Insurance, Kotak Mahindra General Insurance, Kotak AMC, Kotak Investment Advisors, Kotak Capital Company. The company is being promoted by Uday Kotak and promoter holding stands at 25.71% as of June 2024
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Kotak Mahindra Bank (incorporated in 1985) earlier started as Kotak Mahindra Financial Limited and in 2003, became the first non-banking financial company to be converted into a commercial bank with its headquarter at Mumbai, Maharashtra and has the market cap of 277299.75 Crore. It offers various banking products and financial services for corporate and retail customers in areas like personal finance, investment banking, life management and wealth management.
It is one amongst the fastest growing banks and the most admired financial institutions in India. As of 31st March 2019, Kotak Mahindra Bank Limited is the second-largest private sector bank in terms of market capitalization, the bank has 1600 branches and 2519 ATMs covering 744 major cities of India.
The bank has a total of 19 subsidiaries, this includes overseas subsidiaries with their offices in Mauritius, London, Dubai, Singapore, San Francisco & New York. The overseas subsidiaries are mainly engaged in investment advisory and investment management of funds, equity & debt trading, management of GDR/ FCCB issuances, broker & broker-dealer activities and investments.
Kotak Mahindra Bank is listed on all the famous stock exchanges of India like National Stock Exchange Ltd., The Stock Exchange, Mumbai, MCX Stock Exchange and many more. The Kotak Mahindra Bank believes in mutual respect and transparency and the staff is trained to be simple, straightforward, down-to-earth and approachable.
In 2015, Kotak bank Acquired ING Vysya Bank with a share exchange ratio of 725 equity shares of Kotak Mahindra Bank Ltd, for every 1,000 equity shares of ING Vysya Bank Ltd. The deal valued at ₹150 billion (US$2.1 billion), and with this deal, the total employment jumped almost to 40,000 and the total branches reached 1,261. On 31 March 2015, the Reserve Bank of India approved this transaction with effect from 1 April 2015. ING Group, who controlled ING Vysya Bank Ltd., owned 7% shares in Kotak Mahindra Bank Ltd., after the merger.
Kotak Mahindra Bank is one of the leading banks and financial services groups in India. It offers a wide range of banking and financial services including investment banking, personal banking, general insurance, life insurance, and wealth management.
The banking services provide two types of deposit accounts, savings account and current account. These services offer different types of saving and current accounts to its customers to serve their financial needs.
Financial services or financial assisting programs offered by Kotak Mahindra Bank in the form of personal loan, home loan, car loan, education loan or gold loan. Kotak Mahindra Bank offers the gold loan to its customers for easy financing at attractive interest rates. Customers can pledge all types of gold ornaments/coins which are 18 carats and above.
Kotak Bank provides its customers with investment services or plans like fixed deposit and recurring deposit. The fixed deposit scheme is one of the best investment options to invest your money with an interest rate as high as 7%. Also provides recurring deposit schemes for a minimum of 6 months and the max. of 10 years.
The best and common banking facilities provided by Kotak bank to serve and assist its customers are 24*7 customer support, net banking, phone banking and balance enquiry. Also provides card services, with 20 different types of credit cards and 15 types of debit cards to its customers designed to provide various benefits in the form of rewards and cashback. They also provide features (differs from card to card) like unlimited withdrawals at ATMs, lost liability cover, personal or accident insurance, and many more.
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The Kotak Mahindra Group has gained recognition at leading domestic and international platforms. Our focus on excellence and innovation has helped us deliver award-winning solutions. Here are some recent achievements:
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