KOTAK MAHINDRA BANK
An Indian private sector bank, Kotak Mahindra Bank is headquartered in Mumbai, Maharashtra, India. It offers financial services for corporate and retail customers in the areas of investment banking, life insurance, personal finance, and wealth management and also offers banking products and financial services. Kotak Mahindra bank, in terms of market capitalization, (as of April 2019) is the second-largest Indian private sector bank. It has 1600 branches & 2519 ATMs.
Introduction
An Indian private sector bank, Kotak Mahindra Bank is headquartered in Mumbai, Maharashtra, India. It offers financial services for corporate and retail customers in the areas of investment banking, life insurance, personal finance, and wealth management and also offers banking products and financial services. Kotak Mahindra bank, in terms of market capitalization, (as of April 2019) is the second-largest Indian private sector bank. It has 1600 branches & 2519 ATMs.
Its stock price is Rs. 1868.
Aim
Their motto is based on three P’s: Persevere, Pioneer, Prosper.
“At Kotak, we expect more from ourselves than what anyone else expects of us. This way, we are creating a rewarding and delightful experience every day for our customers” – Kotak.
History
Kotak Mahindra Bank was founded by Uday Kotak in 1985; later, what became Indian Financial services coalesce. The group's flagship company, Kotak Mahindra Finance Ltd. (KMFL) received a banking license from the Reserve Bank of India in February 2003. This followed by KMFL becoming the first Indian non-banking finance company to be converted into a bank.
Among the world’s top 500 banks with a brand valuation of around $481 million and a brand rating of AA+, KMBL was ranked 245th; Banker magazine published in February 2014.
Acquisition
The bank has 1261 branches and almost 40000 employees. After Kotak Bank acquired ING Vysya Bank with a deal worth Rs. 150 billion (US $2.1 billion) in 2015, ING Vysya Bank owned a 7% share in Kotak Mahindra Bank.
Social responsibility
Kotak Mahindra Bank donated Rs. 50 crore to the PM CARES fund in 2020 to contribute to the fight against the Covid-19 pandemic.
Awards
- Lifetime Achievement Award at Magna Awards, Uday Kotak, 2019
- 2nd Best CEO, Uday Kotak
- Best mid-size bank
- Silver winner at MADDY'S 2019
- Bajaj Electricals’ best supply chain provider
- Best Collection and Payment Solution provider for Akshaya Patra Foundation
- Best Bank Award for the ‘Best Savings Bank Product’, FE
- Most Innovative Bank of the Year, FinTech Awards (IFTA) 2019
- 2019 FinanceAsia Country Awards: Best Broker
- Indian Digital Media Awards 2019
Vision
Kotak’s business is driven by value creation rather than size alone. They have created a space of trust across all their constituents. They look up to attracting bright minds with an entrepreneurial streak to join them and build long term careers with them.
