Kotak Mahindra Bank

From Wikipedia, the free encyclopedia Kotak Mahindra Bank

Type Traded as Industry Founded

Private BSE: 500247 NSE: KOTAKBANK Banking 1985 (as Kotak Mahindra Finance Ltd)

Kotak Mahindra Bank Ltd., Nariman Bhawan, Headquarters Nariman Point, Mumbai, India Key people Mr. Uday Kotak, Dr. Shankar Acharya, Mr. C. Jayaram and Mr. Dipak Gupta Deposit accounts, Loans, Investment services, Business banking solutions, Treasury and fixed income products etc. 10,963.74 crore (US$2.44 billion)(2011)[1] 1,569.24 crore (US$349.94 million)(2011)

Products

Revenue Net income

kotak.com Website The Kotak Mahindra group is a financial organization established in 1985 in India. It was previously known as the 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 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.[2] Mr. Uday Kotak 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. Dr. Shankar Acharya is the chairman of board of Directors in the company.

The Bank has its registered office at Nariman Bhavan, Nariman Point, Mumbai.

[edit] History
It bought stressed assets from a number of banks, at full loan value of Rs 1,000 crore in 2005.[3] 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.[4] Kotak Mahindra bank also reached the top 100 most trusted brands of India in The Brand Trust Report published by Trust Research Advisory in 2011. Year Milestone 1986 Kotak Mahindra Finance Limited starts the activity of Bill Discounting Kotak Mahindra Finance Limited enters the Lease and Hire Purchase 1987 market 1990 The Auto Finance division is started The Investment Banking Division is started. Takes over FICOM, one 1991 of India's largest financial retail marketing networks 1992 Enters the Funds Syndication sector Brokerage and Distribution businesses incorporated into a separate 1995 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 1996 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 1998 Asset Management Company. Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance 2000 business. Kotak Securities launches its on-line broking site (now 2000 www.kotaksecurities.com). Commencement of private equity activity through setting up of Kotak Mahindra Venture Capital Fund. 2001 Matrix sold to Friday Corporation 2001 Launches Insurance Services Kotak Mahindra Finance Ltd. converts to a commercial bank - the first 2003 Indian company to do so. 2004 Launches India Growth Fund, a private equity fund. Kotak Group realigns joint venture in Ford Credit; Buys Kotak 2005 Mahindra Prime (formerly known as Kotak Mahindra Primus Limited) and sells Ford credit Mahindra.

2005 Launches a real estate fund Bought the 25% stake held by Goldman Sachs in Kotak Mahindra 2006 Capital Company and Securities 2008 Launched a Pension Fund under the New Pension System Entered Ahmedabad Commodity Exchange as anchor investor

2009 Kotak Mahindra Bank Ltd. Opened a representative office in Dubai

Ahmedabad Derivatives and Commodities Exchange, a Kotak 2010 anchored enterprise, became operational as a national commodity exchange. Kotak Mahindra Bank Ltd entered into a Business Cooperation 2011 arrangement with CIMB Group Sdn Bhd, Malaysia. [hide]v d e Central bank

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Financial Services

[edit] Reference
1. ^ Result March 2010 on BSE 2. ^ "Corporate News Kotak's new challenges". HIndustan Times, Mumbai. January 28, 2011. 3. ^ "Kotak Mahindra Bank buys Rs 1,000-cr stressed assets". Business Line, The Hindu. Jun 11, 2005. 4. ^ "Kotak Mahindra Bank net up 32% at Rs 188 cr". Jan 21, 2011.