Kotak Mahindra Bank
|Traded as||BSE: 500247
|Industry||Banking, Financial service|
|Founded||1985 (as Kotak Mahindra Finance Ltd)|
|Products||Deposit accounts, Loans, Investment services, Business banking solutions, Treasury and Fixed income products etc.|
|Revenue||₹109.63 billion (US$1.7 billion)(2011)|
|₹15.69 billion (US$240 million)(2011)|
Number of employees
|29,000 (before merger with ING Vysya) (2015)|
Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra. The bank’s registered office (headquarters) is located at 27BKC, Bandra Kurla Complex, Bandra East, Mumbai, India.
In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the licence 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.
As on 30 September 2014, Kotak Mahindra Bank has over 641 branches and over 1,159 ATMs spread across 363 locations in the country. The bank, before merger with ING Vysya had around 29,000 employees.
Customer Service Toll Free Number = 18001026022 (INDIA)
Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL).
In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine (from The Financial Times Stable), KMBL was ranked 245th among the world’s top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+.  KMBL is also ranked among the top 5 Best Ranked Companies for Corporate Governance in IR Global Ranking.
|1985||Kotak Mahindra Finance Limited commences bill discounting business|
|1987||Kotak Mahindra Finance Limited enters leasing and hire purchase business|
|1990||Starts the auto finance division for financing passenger cars|
|1991||Launches investment banking business|
|1992||Enters the funds syndication business|
|1995||Commenced joint venture with Goldman Sachs Group Inc.
Investment Banking division incorporated into a separate company - Kotak Mahindra Capital Company
|1996||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.
|1998||Launches mutual fund through Kotak Mahindra Asset Management Company (KMAMC).|
|2000||Kotak Securities launches online broking business (now www.kotaksecurities.com).|
|2001||Launches insurance business, partners Old Mutual from South Africa to form Kotak Mahindra Old Mutual Life Insurance Ltd.|
|2003||Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, receives banking license from the Reserve Bank of India (RBI). With this, KMFL becomes the first non-banking finance company to be converted into a commercial bank - Kotak Mahindra Bank Ltd.|
|2004||Enters alternate assets business with the launch of a private equity fund.|
|2005||Kotak Mahindra Group realigns joint venture in Ford Credit; takes 100% ownership of Kotak Mahindra Prime (formerly known as Kotak Mahindra Primus Limited) and sells its stake in Ford credit Mahindra to Ford.|
|2005||Launches a real estate fund|
|2006||Buys out Goldman Sachs' equity stake in Kotak Mahindra Capital Company and Kotak Securities Ltd.|
|2008||Launched a Pension Fund under India's National Pension System (NPS)|
|2009||Kotak Mahindra Bank Ltd. opens a representative office in Dubai
Kotak Mahindra Bank Ltd. becomes anchor investor in Ahmedabad Commodities Exchange (ACE)
|2015||ING Vysya Bank has merged with Kotak Mahindra Bank with effect from 1 April 2015.|
Merger with ING Vysya Bank
In 2014, Kotak Bank acquired ING Vysya Bank for a deal valued at ₹15000 crore (US$2.3 billion). With the merger, the total human resource count will jump to almost 40,000 heads and the count of branch reached at 1261. Post the merger, ING Group which controlled ING Vysya Bank will own 7% share in Kotak Mahindra Bank.
Awards and recognitions
- Won ‘Gold Award for Best Innovation – World’s first socially powered bank account’ and ‘Gold Award for Best App developed – World’s first banking application using Twitter’ awards at the Indian Digital Media Awards 2014 for Kotak Jifi
- Recognised as Highest Fundraising Company in Corporate Challenge category in Standard Chartered Mumbai Marathon 2014
- Kotak Mahindra Bank was ranked 292nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. In the Brand Trust Report 2013, Kotak Mahindra Bank was ranked 861st among India's most trusted brands and subsequently, according to the Brand Trust Report 2014, Kotak Mahindra Bank was ranked 114th among India's most trusted brands.
- Won National Securities Depository Ltd. (NSDL) award in the Best Performer in account Growth Rate category 2013, for Demat Accounts 
- Won the Asian Banker award for stellar customer service and receiving positive reviews/feedback from its customers
- "Latest Stock/Share Market Updates - Corporate News - Announcements - BSE". Retrieved 3 September 2015.
- Parmar, Beena (1 April 2015). "Integrating people, technology are main challenges, says Kotak Mahindra CFO". The Hindu. Retrieved 15 April 2015.
- "Top banks on a slide; smaller peers do better: Brand Finance study - The Smart Investor". Retrieved 3 September 2015.
- The Banker. "The Banker - The Banker". Retrieved 3 September 2015.
- "IR Global Rankings". Retrieved 3 September 2015.
- "Kotak Securities". 21 January 2011.
- "ING Vysya Bank is Now Kotak Mahindra Bank". Retrieved 3 September 2015.
- "Kotak Bank acquires ING Vysya for ₹15,000 crore". The Hindu (Mumbai). 20 November 2014. Retrieved 15 April 2015.
- "ING Vysya staff seek job surety from Kotak". business-standard.com. BusinessStandard. 6 December 2014. Retrieved 15 April 2015.
- "India's Most Trusted Brands".