Kotak Mahindra Bank
| Kotak Mahindra Bank | |
|---|---|
| legal form | Corporation |
| ISIN | INE237A01028 |
| founding | 1985 |
| Seat |
Mumbai , India
|
| management | Uday Kotak |
| Number of employees | 33,000 (2017) |
| sales | 4.1 billion US dollars (2018) |
| Website | www.kotak.com |
The Kotak Mahindra Bank is an Indian private bank with headquarters in Mumbai . The company provides banking and financial services through various specialized subsidiaries in the areas of personal finance, investment banking, general insurance, life insurance and wealth management. In April 2019, it was the second largest Indian private bank by market capitalization behind HDFC Bank .
history
In 1985 Uday Kotak founded today's bank as a financial services group. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship, has a banking license from the Reserve Bank of India (RBI). This made KMFL the first non-bank finance company in India to be converted into a bank, Kotak Mahindra Bank Limited.
In 2015, Kotak Bank acquired ING Vysya Bank for $ 2.2 billion. With the merger, the total workforce rose to almost 40,000 employees and the number of branches reached 1261. After the merger, ING Groep , which controlled ING Vysya Bank, held a 7% stake in Kotak Mahindra Bank.
Individual evidence
- ^ Banks - Private Sector Sector Market Data by Market Cap - Moneycontrol. Retrieved July 21, 2019 .
- ↑ Our Story. Retrieved July 21, 2019 .
- ↑ ING Vysya staff seek job surety from Kotak. Retrieved July 21, 2019 .