Kotak Bank

By: EconomyWatch Content   Date: 3 November 2009

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Kotak Bank, also known as Kotak Mahindra Group, is one of the leading financial institutions of India. It offers a diverse range of financial solutions including commercial banking, stock broking, mutual funds and insurance. The bank caters to individual financial needs of retail as well as corporate customers.

Kotak Bank Group: Profile

Kotak Bank group was born in the year 1985 as a capital management firm. Over the years, the company diversified to include auto finance, investment banking and fund syndication activities. In 2003, Reserve Bank of India (RBI) gave banking license to the group. Thus, Kotak Mahindra Finance Ltd. became Kotak Bank or Kotak Mahindra Bank. In the Indian history, it was the first instance when a financial institution acquired banking license.

Kotak Bank Group has following subsidiaries:

  • Kotak Mahindra Capital Company Limited (KMCC)

  • Kotak Securities Ltd.

  • Kotak Mahindra Prime Limited

  • Kotak Mahindra Asset Management Company (KMAMC)

  • Kotak Mahindra Old Mutual Life Insurance Limited

  • Kotak International

As per 2009 data, the group has a net worth of Rs. 6,799 crore. Service delivery is managed by a network of branches, representative offices, satellite offices and franchisees across 33 town and cities in India.

Kotak Bank also enjoys sound overseas business profile. It has offices in Dubai, London, Mauritius, New York, San Francisco and Singapore. Kotak Bank caters to almost 2.6 million customers worldwide

Kotak Bank: Products and Services

Kotak Bank classifies its wide array of products and services into four categories. In Banking and savings, this includes:

  • Banking Accounts

  • Credit Cards

  • Convenience Banking

  • Demat

  • Deposits

  • NRI Services

  • Privy League

  • Wealth Management

Investment and insurance products and service available under this category include:

  • Estate Planning

  • Gold

  • Life Insurance

  • Mutual Funds

  • Share Trading

  • Structured Products

Loan and borrowings categories including products such as:

  • Car Finance

  • Commercial Loans

  • Home Loans

  • Loans Against Property

  • Personal Loans

Corporate finance: Specialized financial products for corporate customers are:

  • Finance

  • Investment Banking

  • Institutional Equities

  • Treasury

Incidentally, in 2009, Kotak Bank bagged the Hewitt Best Employer’s in India award for second time consecutively.


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