about the group
Mr. Uday Kotak started from a small 300 sq. ft. office and entered into his first lending deal with Nelco, for bill discounting. He sensed a large opportunity in car financing much ahead of the peers. He built up the car financing business in Kotak Mahindra Prime Ltd, (KMPL) in 1990 s and went public with the holding entity, Kotak Mahindra Finance Ltd in 1992. On the day of listing the share was listed at Rs 1,300 to 1,400 against the issue price of Rs 45 per share. Thereupon investment banking and securities business were incorporated as Kotak Mahindra Capital Company and Kotak Securities Ltd, wherein 25% stake was offered to Goldman Sachs. The Group launched a mutual fund, insurance and equities broking. In 2003, Kotak Mahindra Finance became the first NBFC to get a banking licence, and transformed itself into Kotak Mahindra Bank Ltd. In 2015, ING decided to divest its Indian subsidiary to Kotak Mahindra Bank.
Kotak Mahindra Bank, now valued as among the largest banks in India among private and public sector peers is the flagship entity of the Kotak Mahindra Group. The Bank caters to the diverse needs of major Indian corporate bodies, financial institutions, public sector undertakings, multinational companies, mid-market companies and realty businesses across nine key locations in India.
The Bank, albeit a new entrant in 2003, has built deep and strategic relationships with corporates, has taken over the ING’s India banking subsidiary, and provides wide access of more than 1,300 branches spanning across the country. Within corporate banking, the Group offer all corporate clients undivided attention and personalised service through relationship managers and product specialists. The Bank offers a comprehensive portfolio of products and services – working capital financing, medium term finance, export credit, transaction banking, custody services, debt capital markets, forex and treasury services. The Bank has deployed technology as a facilitator and to offer wide range of services as a one-stop-shop brand.
For further information, kindly visit the website www.kotak.com