Kotak Mahindra Bank is the brainchild of its founder Mr Uday Kotak. Back In the year 1985 fresh after completing his MBA, he envisioned to start financial services company. Showing confidence in the abilities of the young & aggressive Uday Kotak the industrialist Mr Anand Mahindra invested 1 lakh in his company.
Thus started the Kotak Mahindra success story!
The Financial services company was started as the Kotak Capital Management Financial Company, which later became Kotak Mahindra Finance Limited.
In the month of February of 2003 the Reserve Bank of India issued the Licence to Kotak Mahindra Finance company to start its Banking Business, thus Kotak became the first non-banking finance company in India’s corporate history to be converted into a bank.
Kotak offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.
In 2014, Kotak Bank acquired ING Vysya Bank in a deal valued at ₹15,000 crore (US$2.2 billion) With the Merger Kotak now stands at strength of over 46,500 personnel under its employment & a network of 1,348 branches across 675 locations and 2,051 ATMs in the country.
The Kotak Mahindra bank has made history with its phenomenal growth & endeavours to be one of the top Banks in the country.