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$2.22 billion)(2011)[1] 1,569.24 crore (US$318.24 million)(2011) kotak.com

Products

Revenue Net income Website

The Kotak Mahindra Bank (BSE: 500247) is a financial organization established in 1985 in India. It was previously known as 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 1987 Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market 1990 The Auto Finance division is started The Investment Banking Division is started. Takes over FICOM, one of India's largest financial retail 1991 marketing networks 1992 Enters the Funds Syndication sector Brokerage and Distribution businesses incorporated into a separate company - Securities. Investment 1995 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 1996 Ford Credit Kotak Mahindra Limited, for financing Ford vehicles. The launch of Matrix Information Services Limited marks the Group's entry into information distribution. 1998 Enters the mutual fund market with the launch of Kotak Mahindra Asset Management Company. 2000 Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business. Kotak Securities launches its on-line broking site (now www.kotaksecurities.com). Commencement of 2000 private equity activity through setting up of Kotak Mahindra Venture Capital Fund. 2001 Matrix sold to Friday Corporation 2001 Launches Insurance Services 2003 Kotak Mahindra Finance Ltd. converts to a commercial bank - the first Indian company to do so. 2004 Launches India Growth Fund, a private equity fund. Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra Prime (formerly known as 2005 Kotak Mahindra Primus Limited) and sells Ford credit Mahindra. 2005 Launches a real estate fund 2006 Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Securities 2008 Launched a Pension Fund under the New Pension System Kotak Mahindra Bank Ltd. Opened a representative office in Dubai 2009 Entered Ahmedabad Commodity Exchange as anchor investor Ahmedabad Derivatives and Commodities Exchange, a Kotak anchored enterprise, became 2010 operational as a national commodity exchange. Kotak Mahindra Bank Ltd entered into a Business Cooperation arrangement with CIMB Group Sdn 2011 Bhd, Malaysia. [hide]v d e Central bank Reserve Bank of India NABARD Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Punjab & Sind Bank Punjab National Bank Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank State Bank of India State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of Indore State Bank of Mysore State Bank of Patiala State Bank of Travancore State Bank of Saurashtra

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

[edit] External links

Kotak Group website Kotak Investor Relations website Kotak Bank IFSC Codes Kotak International Kotak Wealth Management Kotak Private Equity Kotak Realty Fund Q1. How is Kotak Mahindra Bank organized? Kotak Mahindra Bank (KMB) offers a very wide range of products and services targeted at retail customers, delivered through a state of the art technology platform. In addition to branch banking, convenience banking facilities offered by the Bank include telephone banking, internet banking, mobile banking, direct pay services, payment gateway for online shopping, a global debit card, a prepaid spending card and facility to transfer of funds to all Visa debit and credit cards in India.
KMB has 5 broad business segments:
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Q2. What does the Kotak logo represent? The symbol of the infinite Ka reflects our global Indian personality. The Ka is uniquely Indian while its curve forms the infinity sign, which is universal. One of the basic tenets of economists is that man's needs are unlimited. The infinite Ka symbolises that we have infinite number of ways to meet those needs. Top Q3. How many people work at Kotak Mahindra Bank? As of March 31, 2011, Kotak Mahindra Bank (standalone) had 11,152 employees. The Bank was also adjudged amongst the Top 25 Best Employers in India by Aon Hewitt Best Employer in India Study 2011. Top Q4. How many cities do you have operations? As on March 31, 2011, Kotak Mahindra Bank had built a network of 321 full fledged branches across 182 cities. To