Kotak Mahindra Bank

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Kotak Mahindra Bank
IndustryFinancial services
FoundedFebruary 2003; 18 years ago (2003-02)
FoundersUday Kotak
HeadquartersMumbai, Maharashtra, India
Key people
ProductsBanking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, asset management
RevenueIncrease 56,703 crore (US$7.5 billion)[1] (2021)
Increase 16,428 crore (US$2.2 billion)[1] (2021)
Increase 9,903 crore (US$1.3 billion)[1] (2021)
Total assetsIncrease 478,872 crore (US$64 billion)[2] (2021)
Total equityIncrease 83,345 crore (US$11 billion)[2] (2021)
Number of employees
71,000 (2021)[3]

Kotak Mahindra Bank Limited is an Indian banking and financial services company headquartered in the city of Mumbai, India. It is India's third largest private sector bank by assets and by market capitalisation as of November 2021. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of February 2021, the bank has 1600 branches and 2519 ATMs.[5]


In 1985, Uday Kotak founded what later became an Indian financial services conglomerate.[6] In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received a banking licence from the Reserve Bank of India. With this, KMFL became the first non-banking finance company in India to be converted into a bank.[7]

In a study by Brand Finance Banking 500 published in February 2014 by Banker magazine, KMBL was ranked 245th among the world's top 500 banks with a brand valuation of around US$481 million and brand rating of AA+.[8][9]

A Kotak Mahindra Bank ATM in Kolkata

Mergers and acquisitions[edit]

ING Vysya Bank[edit]

In 2015, Kotak Bank acquired ING Vysya Bank in a deal valued at 150 billion (US$2.0 billion). With the merger completed, Kotak Mahindra Bank had almost 40,000 employees, and the number of branches reached 1,261.[10] After the merger, ING Group, which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.[11]


In 2021, the bank acquired a 9.99% stake in Ferbine, an entity promoted by Tata Group, to operate a Pan-India umbrella entity for retail payment systems, similar to National Payments Corporation of India.[12]

Subsidiaries and associates[edit]

Major subsidiaries of the Bank include [13]

  • 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

Corporate Social Responsibility[edit]

In 2020, Kotak pledged to donate ₹50 crore to the PM CARES Fund to fight against the COVID-19 pandemic in India.[14]

See also[edit]


  1. ^ a b c "Kotak Mahindra Bank Consolidated Profit & Loss account, Kotak Mahindra Bank Financial Statement & Accounts". moneycontrol.com. Retrieved 31 August 2020.
  2. ^ a b "Kotak Mahindra Bank Consolidated Balance Sheet, Kotak Mahindra Bank Financial Statement & Accounts". moneycontrol.com. Retrieved 31 August 2020.
  3. ^ "Annual Report 2020" kotak.com (16 March 2018).
  4. ^ "About our Stock Broking Services". Kotak Securities®.
  5. ^ "List of private banks by market capitalization". moneycontrol.com. Retrieved 23 April 2019.
  6. ^ "How Uday Kotak, world's richest banker, made $16 bn after a brush with death". mint. 18 December 2020.
  7. ^ "About Us". kotak.com. Retrieved 3 December 2015.
  8. ^ "Top banks on a slide; smaller peers do better: Brand Finance study – The Smart Investor". Retrieved 3 September 2015.
  9. ^ The Banker. "The Banker – The Banker". Retrieved 3 September 2015.
  10. ^ "Kotak Bank acquires ING Vysya for INR 15,000 crore". The Hindu. Mumbai. 20 November 2014. Retrieved 15 April 2015.
  11. ^ "ING Vysya staff seek job surety from Kotak". Business Standard India. BusinessStandard. 6 December 2014. Retrieved 15 April 2015.
  12. ^ "Kotak Mahindra Bank, HDFC Bank To Acquire 9.99% Each In Ferbine". Moneycontrol. Retrieved 4 March 2021.
  13. ^ "Investor Presentation" (PDF).
  14. ^ "Kotak Mahindra Bank, Uday Kotak jointly pledge ₹50 crore to PM-CARES Fund". Livemint. 29 March 2020. Retrieved 2 July 2020.

External links[edit]

Official website