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Kotak Brief
Kotak Brief
Kotak Brief
BACKGROUND INFORMATION:
25 years ago, banking licenses were not being issued in India. Kotak Mahindra
had to function as a non-banking financial services company (NBFC) then.
Over the years, Kotak has added every single financial product and service to its
arsenal, until finally, in 2003, it was awarded a banking license.
Hence, in 2003, Kotak Mahindra became the country’s first NBFC to be
converted into a bank. Kotak Mahindra is also a very rare entity, which has the
names of its promoters on the door. Uday Kotak is the founder, and Anand
Mahindra offered his partnership and support, including by way of his family
name, which was well known in the automotive sector (www.mahindra.com).
Today, Kotak Mahindra Bank is a financial conglomerate that spans all product
categories possible, including banking, insurance, asset management,
brokerage, investment banking et al. With a nationwide presence across 287
towns and cities, via over 1500 outlets, Kotak Mahindra serves over 7mn
customers with at least one offering.
Kotak Mahindra Bank has typically operated in the mass affluent segment, but is
now broadening its offerings to appeal to a wider segment of customers.
Thanks to its origins in categories outside traditional banking, Kotak Mahindra
brings to banking a unique approach that focuses less on the plain vanilla
banking products and services which every other bank provides, but a more
sophisticated suite of offerings that cover the spectrum of financial needs of
individuals, families as well as businesses.
More information may be found at aboutus.kotak.com and ir.kotak.com and
www.kotak.com.
All films of Kotak may be found at www.youtube.com/KotakMahindraGroup.
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