The Kotak Mahindra Bank
is a financial organization established in 1985 in India. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company
Non-bank financial companies are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. These institutions are not allowed to take deposits from the public. Nonetheless, all operations of these...
. 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). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank. Today it has more than 20,000 employees and Rs. 10,000 crore in revenue.
Mr. Uday Kotak
Uday Kotak is an Indian businessman. He is the vice-chairman and managing director of Kotak Mahindra Bank. He owns a 50% stake in Kotak Mahindra Bank, which he founded and runs. Forbes estimated his wealth to be $3.2 billion in 2011...
is Executive Vice Chairman & Managing Director of Kotak Mahindra Bank Ltd. In July 2011 Mr. C. Jayaram and Mr. Dipak Gupta, whole time directors of the Bank, were appointed the Joint Managing Directors of Kotak Mahindra Bank
The Kotak Mahindra Bank is a financial organization established in 1985 in India. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking...
. Dr. Shankar Acharya
Dr. Shankar Acharya is an Indian economist. He is currently Member Board of Governors and Honorary Professor at the ICRIER. Hi is also the Non-Executive Part-time Chairman of the Board of Directors of Kotak Mahindra Bank -Early life:...
is the chairman of board of Directors in the company.
The Bank has its registered office at Nariman Bhavan, Nariman Point
Nariman Point is Mumbai's premier business district and country's first central business district. It was named after Khursheed Framji Nariman, a Parsi visionary. The area is situated on land reclaimed from the sea. It had the distinction of having the highest commercial real estate rental space...
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
It bought stressed assets from a number of banks, at full loan value of Rs 1,000 crore in 2005. In January 2011, the bank reported a 32% rise in net profit to Rs188 crore for the quarter ended December 2010 against Rs. 142 crore the corresponding quarter last year. Kotak Mahindra bank also reached the top 100 most trusted brands of India in The Brand Trust Report
The Brand Trust Report, India Study, 2011 is published by Trust Research Advisory . The book is a result of a syndicated primary research on Brand Trust that generated 10,00,000 data points and 16,000 unique brands from over 10,000 hours of fieldwork conducted in 9 cities TRA’s study partners in...
published by Trust Research Advisory in 2011.
|| Kotak Mahindra Finance Limited starts the activity of Bill Discounting
|| Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market
|| The Auto Finance division is started
|| The Investment Banking Division is started. Takes over FICOM, one of India's largest financial retail marketing networks
|| Enters the Funds Syndication sector
|| Brokerage and Distribution businesses incorporated into a separate company - Securities. Investment Banking division incorporated into a separate company - Kotak Mahindra Capital Company
|| The Auto Finance Business is hived off into a separate company -Kotak Mahindra Prime Limited (formerly known as Kotak Mahindra Primus Limited). Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra Limited, for financing Ford vehicles. The launch of Matrix Information Services Limited marks the Group's entry into information distribution.
|| Enters the mutual fund market with the launch of Kotak Mahindra Asset Management Company.
|| Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business.
|| Kotak Securities
Kotak Securities Limited, a subsidiary of Kotak Mahindra Bank, is the stock broking and distribution arm of the Kotak Mahindra Group. One of the oldest broking houses in India, its operations include stock broking and distribution of various financial products. It is a corporate member of both the...
launches its on-line broking site (now www.kotaksecurities.com). Commencement of private equity activity through setting up of Kotak Mahindra Venture Capital Fund.
|| Matrix sold to Friday Corporation
|| Launches Insurance Services
|| Kotak Mahindra Finance Ltd. converts to a commercial bank - the first Indian company to do so.
|| Launches India Growth Fund, a private equity fund.
|| Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra Prime (formerly known as Kotak Mahindra Primus Limited) and sells Ford credit Mahindra.
|| Launches a real estate fund
|| Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Securities
|| Launched a Pension Fund under the New Pension System
|| Kotak Mahindra Bank Ltd. Opened a representative office in Dubai
Entered Ahmedabad Commodity Exchange as anchor investor
|| Ahmedabad Derivatives and Commodities Exchange, a Kotak anchored enterprise, became operational as a national commodity exchange.
|| Kotak Mahindra Bank Ltd entered into a Business Cooperation arrangement with CIMB Group Sdn Bhd, Malaysia.