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| name = Kotak Mahindra Bank
| name = Kotak Mahindra Bank
| logo = Kotak Mahindra Group logo.svg
| logo = Kotak Mahindra Group logo.svg
| logo_size =
| type = [[Public company|Public]]
| logo_caption = ''Lets Make Money Simple''
| type = [[Public]]
| traded_as = {{ubl|{{BSE|500247}}|{{NSE|KOTAKBANK}}|[[BSE SENSEX|BSE SENSEX Constituent]]|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| traded_as = {{ubl|{{BSE|500247}}|{{NSE|KOTAKBANK}}|[[BSE SENSEX|BSE SENSEX Constituent]]|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| ISIN = INE237A01028
| ISIN = INE237A01028
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| products = [[Banking]], [[commodities]], [[credit card]]s, [[equities trading]], [[insurance]], [[investment management]], [[mortgage loan]]s, [[mutual funds]], [[private equity]], [[risk management]], [[wealth management]], [[asset management]]
| products = [[Banking]], [[commodities]], [[credit card]]s, [[equities trading]], [[insurance]], [[investment management]], [[mortgage loan]]s, [[mutual funds]], [[private equity]], [[risk management]], [[wealth management]], [[asset management]]
| founders = [[Uday Kotak]]
| founders = [[Uday Kotak]]
| key_people = {{ubl|[[Prakash Apte]]|{{small|(Chairman)}}|[[Uday Kotak]]|{{small|(MD & CEO)}}}}
| key_people = [[Uday Kotak]] {{small|(Chairman, MD & CEO)}}
| revenue = {{Increase}} {{INRConvert|56703|c}}<ref name=is>{{Cite web|title=Kotak Mahindra Bank Consolidated Profit & Loss account, Kotak Mahindra Bank Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/kotakmahindrabank/consolidated-profit-lossVI/KMB|access-date=31 August 2020|website=moneycontrol.com|language=en}}</ref>
| revenue = {{Increase}} {{INRConvert|56703|c}}<ref name=is>{{Cite web|title=Kotak Mahindra Bank Consolidated Profit & Loss account, Kotak Mahindra Bank Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/kotakmahindrabank/consolidated-profit-lossVI/KMB|access-date=31 August 2020|website=moneycontrol.com|language=en}}</ref>
| revenue_year = 2021
| revenue_year = 2021
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| num_employees = 71,000 (2021)<ref name=BL>[https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/Annual-Reports/FY-2020/kotak-mahindra-bank/Kotak_Mahindra_Bank_Limited_FY20.pdf "Annual Report 2020"] kotak.com (16 March 2018).</ref>
| num_employees = 71,000 (2021)<ref name=BL>[https://www.kotak.com/content/dam/Kotak/investor-relation/Financial-Result/Annual-Reports/FY-2020/kotak-mahindra-bank/Kotak_Mahindra_Bank_Limited_FY20.pdf "Annual Report 2020"] kotak.com (16 March 2018).</ref>
| foundation = {{Start date and age|2003|02||df=yes}}
| foundation = {{Start date and age|2003|02||df=yes}}
| location = Mumbai, India
| location = [[Mumbai]], [[Maharashtra]], India
| subsid = {{ubl|[[Kotak Mahindra General Insurance]]|[[Kotak Life Insurance]]|[[Kotak Mutual Fund]]|[[Kotak Securities]]<ref>{{Cite web|url=https://www.kotaksecurities.com/ksweb/About-Us/Why-Choose-Us/About-Kotak-Securities|title=About our Stock Broking Services|website=Kotak Securities®}}</ref>|Kotak Mahindra Prime Ltd.|[[Airtel Payments Bank]]}}
| subsid = {{ubl|[[Kotak Mahindra General Insurance]]|[[Kotak Life Insurance]]|[[Kotak Mutual Fund]]|[[Kotak Securities]]<ref>{{Cite web|url=https://www.kotaksecurities.com/ksweb/About-Us/Why-Choose-Us/About-Kotak-Securities|title=About our Stock Broking Services|website=Kotak Securities®}}</ref>|Kotak Mahindra Prime Ltd.|[[Airtel Payments Bank]]
(9.99%)}}
| homepage = {{URL|www.kotak.com}}
| homepage = {{URL|www.kotak.com}}
}}
}}
'''Kotak Mahindra Bank Limited''' is an Indian [[banking]] & [[financial services]] company headquartered in the city of Mumbai, India. It offers banking products and financial services for corporate and retail customers in the areas of [[personal finance]], [[investment banking]], [[life insurance]], and [[wealth management]].
'''Kotak Mahindra Bank Limited''' is an Indian [[banking]] and [[financial services]] company headquartered in [[Mumbai]]. It offers banking products and financial services for corporate and retail customers in the areas of [[personal finance]], [[investment banking]], [[life insurance]], and [[wealth management]]. It is India's third largest private sector bank by assets and by market capitalisation as of November 2021. As of February 2021, the bank has 1600 branches and 2519 [[Automated teller machine|ATMs]].<ref>{{cite news|title=List of private banks by market capitalization |url=http://www.moneycontrol.com/stocks/data-bank/standalone/banks-private-sector/1/mkt-data/mktcap|website=moneycontrol.com|access-date=23 April 2019}}</ref>


As of February 2021, it is the third largest Indian private sector bank by market capitalization, with 1600 branches & 2519 ATMs.<ref>{{cite news|title=List of private banks by market capitalization |url=http://www.moneycontrol.com/stocks/data-bank/standalone/banks-private-sector/1/mkt-data/mktcap|website=moneycontrol.com|access-date=23 April 2019}}</ref>
==History==
In 1985, [[Uday Kotak]] founded Kotak Capital Management Finance as an investment and financial services company, with a loan of {{INR}}30 [[lakh]] from family and friends.<ref>{{cite web |title=How Uday Kotak, world's richest banker, made $16 bn after a brush with death |url=https://www.livemint.com/companies/people/how-uday-kotak-world-s-richest-banker-made-16-bn-after-a-brush-with-death-11608248541743.html |website=mint |language=en |date=18 December 2020}}</ref> In 1986, [[Anand Mahindra]] and his father Harish Mahindra invested {{INR}}1 lakh in the company and it was subsequently renamed as Kotak Mahindra Finance.<ref>{{cite news |title=1 Lakh Investment Turned Into 1,400 Crores In 32 Years. This Is For Real |url=https://www.ndtv.com/business/1-lakh-investment-turned-into-1400-crores-in-32-years-this-is-for-real-1677458 |access-date=15 June 2022 |work=NDTV.com}}</ref> The company was initially engaged in bill discounting and [[Lease purchase contract|lease]] and [[hire purchase]] activities.<ref>{{cite news |title=Kotak Mahindra Bank Ltd. |url=https://www.business-standard.com/company/kotak-mah-bank-2330/information/company-history |access-date=15 June 2022 |work=Business Standard India}}</ref>


==History==
In the 1990s, the company established [[Car finance|car financing]] and [[investment banking]] divisions, and expanded its operations overseas. In 1996, car financing company Kotak Mahindra Primus was incorporated as a 60:40 [[joint venture]] between Kotak Mahindra Finance and [[Ford Motor Credit Company|Ford Credit International]].<ref>{{cite news |last1=Philip |first1=Lijee |last2=Ganguli |first2=Bodhisatva |title=Kotak Mahindra to buy Ford's stake in Primus |url=https://economictimes.indiatimes.com/kotak-mahindra-to-buy-fords-stake-in-primus/articleshow/1065720.cms |access-date=15 June 2022 |work=The Economic Times}}</ref> In 2001, OM Kotak Mahindra Life Insurance Company was established as a 74:26 joint venture between Kotak Mahindra Finance and [[Old Mutual]].<ref>{{cite news |title=Kotak Mahindra, Old Mutual get nod for life insurance JV |url=https://www.rediff.com/money/2001/jan/11kotak.htm |access-date=15 June 2022 |work=www.rediff.com}}</ref>
In 1985, [[Uday Kotak]] founded what later became an Indian financial services conglomerate.<ref>{{cite web |title=How Uday Kotak, world's richest banker, made $16 bn after a brush with death |url=https://www.livemint.com/companies/people/how-uday-kotak-world-s-richest-banker-made-16-bn-after-a-brush-with-death-11608248541743.html |website=mint |language=en |date=18 December 2020}}</ref> In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received a banking licence from the [[Reserve Bank of India]]. With this, KMFL became the first non-banking finance company in India to be converted into a bank.<ref>{{Cite web|title = About Us|url = http://www.kotak.com/about-us.html|website = kotak.com|access-date = 3 December 2015}}</ref>
 
In February 2003, Kotak Mahindra Finance received a [[Banking license|banking licence]] from the [[Reserve Bank of India]]. With this, it became the first non-banking finance company in India to be converted into a [[bank]]. Kotak Mahindra Finance was then renamed as Kotak Mahindra Bank.<ref>{{cite news |title=RBI gives Kotak Mahindra banking licence - Times of India |url=https://timesofindia.indiatimes.com/business/india-business/rbi-gives-kotak-mahindra-banking-licence/articleshow/36679056.cms |access-date=15 June 2022 |work=The Times of India |language=en}}</ref> At the time, Uday Kotak had 56% stake in the company while Anand Mahindra held 5%.<ref>{{cite news |title=Kotak Mahindra Finance in limelight |url=https://www.rediff.com/money/2003/feb/07hot2.htm |access-date=15 June 2022 |work=www.rediff.com}}</ref>
 
In 2005, Kotak Mahindra Bank acquired Ford Credit's 40% stake in Kotak Mahindra Primus, making it a wholly-owned subsidiary of the group.<ref>{{cite news |title=Kotak Mahindra, Ford to end JV |url=https://economictimes.indiatimes.com/kotak-mahindra-ford-to-end-jv/articleshow/1129642.cms |access-date=15 June 2022 |work=The Economic Times}}</ref> The company was subsequently renamed as Kotak Mahindra Prime; Kotak Mahindra Bank transferred 49% stake in Kotak Mahindra Prime to its step-down subsidiary Kotak Securities.<ref>{{cite news |title=Kotak Mahindra Prime Limited: |url=https://www.icra.in/Rationale/ShowRationaleReport?Id=105600 |access-date=15 June 2022 |work=ICRA}}</ref>
 
In 2015, Kotak Bank acquired [[ING Vysya Bank]] in a deal valued at {{INRConvert|15000|c|year=2015|mode=historical}}. With the merger completed, Kotak Mahindra Bank had almost 40,000 employees, and the number of branches reached 1,261.<ref>{{cite news|title=Kotak Bank acquires ING Vysya for INR 15,000 crore|url=http://www.thehindubusinessline.com/industry-and-economy/banking/kotak-mahindra-board-okays-merger-of-ing-vysya-bank/article6618345.ece|access-date=15 April 2015|work=The Hindu|date=20 November 2014|location=Mumbai}}</ref> After the merger, [[ING Group]], which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.<ref>{{cite news|title=ING Vysya staff seek job surety from Kotak|url=http://www.business-standard.com/article/finance/ing-vysya-staff-seek-job-surety-from-kotak-114120600080_1.html|newspaper=Business Standard India|publisher=BusinessStandard|access-date=15 April 2015|date=6 December 2014}}</ref>


In a study by Brand Finance Banking 500 published in February 2014 by ''Banker'' magazine, KMBL was ranked 245th among the world's top 500 banks with a brand valuation of around {{USD|481&nbsp;million}} and brand rating of AA+.<ref>{{cite web|url=http://smartinvestor.business-standard.com/common/srchoutdet-225259-interim%20budget-Top_banks_on_a_slide_smaller_peers_do_better_Brand_Finance_study.htm|title=Top banks on a slide; smaller peers do better: Brand Finance study – The Smart Investor|access-date=3 September 2015}}</ref><ref>{{cite web|url=http://www.thebanker.com/Banker-Data/Banker-Rankings/The-Top-500-Banking-Brands-2014?ct=true|title=The Banker – The Banker|author=The Banker|access-date=3 September 2015}}</ref>
[[File:ATM of Kotak in Shyambazar 01.jpg|thumb|right|A Kotak Mahindra Bank ATM in [[Kolkata]]]]
[[File:ATM of Kotak in Shyambazar 01.jpg|thumb|right|A Kotak Mahindra Bank ATM in [[Kolkata]]]]


== Mergers and acquisitions ==
In 2017, Kotak Mahindra Bank acquired Old Mutual's 26% stake in [[Kotak Life Insurance|Kotak Mahindra Old Mutual Life Insurance]] for {{INRconvert|1292|c|year=2017|mode=historical}}, making the life insurance company its wholly-owned subsidiary.<ref>{{cite news |last1=Sinha |first1=Shilpy |title=Kotak to buy out Old Mutual in insurance JV |url=https://economictimes.indiatimes.com/markets/stocks/news/kotak-to-buy-out-old-mutual-in-insurance-jv/articleshow/58428668.cms |access-date=15 June 2022 |work=The Economic Times}}</ref>
 
=== ING Vysya Bank ===
In 2015, Kotak Bank acquired [[ING Vysya Bank]] in a deal valued at {{INRConvert|150|b}}. With the merger completed, Kotak Mahindra Bank had almost 40,000 employees, and the number of branches reached 1,261.<ref>{{cite news|title=Kotak Bank acquires ING Vysya for INR 15,000 crore|url=http://www.thehindubusinessline.com/industry-and-economy/banking/kotak-mahindra-board-okays-merger-of-ing-vysya-bank/article6618345.ece|access-date=15 April 2015|work=The Hindu|date=20 November 2014|location=Mumbai}}</ref> After the merger, [[ING Group]], which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.<ref>{{cite news|title=ING Vysya staff seek job surety from Kotak|url=http://www.business-standard.com/article/finance/ing-vysya-staff-seek-job-surety-from-kotak-114120600080_1.html|newspaper=Business Standard India|publisher=BusinessStandard|access-date=15 April 2015|date=6 December 2014}}</ref>


=== Ferbine ===
In 2021, the bank acquired a 9.99% stake in Ferbine, an entity promoted by [[Tata Group]], to operate a Pan-India umbrella entity for retail payment systems, similar to [[National Payments Corporation of India]].<ref>{{Cite web|title=Kotak Mahindra Bank, HDFC Bank To Acquire 9.99% Each In Ferbine|url=https://www.moneycontrol.com/news/business/markets/kotak-mahindra-bank-hdfc-bank-to-acquire-9-99-each-in-ferbine-private-ltd-6578201.html|access-date=2021-03-04|website=Moneycontrol}}</ref>
In 2021, the bank acquired a 9.99% stake in Ferbine, an entity promoted by [[Tata Group]], to operate a Pan-India umbrella entity for retail payment systems, similar to [[National Payments Corporation of India]].<ref>{{Cite web|title=Kotak Mahindra Bank, HDFC Bank To Acquire 9.99% Each In Ferbine|url=https://www.moneycontrol.com/news/business/markets/kotak-mahindra-bank-hdfc-bank-to-acquire-9-99-each-in-ferbine-private-ltd-6578201.html|access-date=2021-03-04|website=Moneycontrol}}</ref>


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* Kotak Securities
* Kotak Securities
* Kotak Mahindra Capital
* Kotak Mahindra Capital
* Kotak Mahindra Life Insurance
* [[Kotak Life Insurance|Kotak Mahindra Life Insurance]]
* Kotak Mahindra General Insurance
* [[Kotak Mahindra General Insurance]]
* [[Kotak Mutual Fund|Kotak AMC]]
* [[Kotak Mutual Fund|Kotak AMC]]
* Kotak Investment Advisors
* Kotak Investment Advisors
* kotak capital Company
* Kotak Capital Company
 
==Recognition==
In a study by Brand Finance Banking 500 published in February 2014 by ''Banker'' magazine, KMBL was ranked 245th among the world's top 500 banks with a brand valuation of around {{USD|481&nbsp;million}} and brand rating of AA+.<ref>{{cite web|url=http://smartinvestor.business-standard.com/common/srchoutdet-225259-interim%20budget-Top_banks_on_a_slide_smaller_peers_do_better_Brand_Finance_study.htm|title=Top banks on a slide; smaller peers do better: Brand Finance study – The Smart Investor|access-date=3 September 2015}}</ref><ref>{{cite web|url=http://www.thebanker.com/Banker-Data/Banker-Rankings/The-Top-500-Banking-Brands-2014?ct=true|title=The Banker – The Banker|author=The Banker|access-date=3 September 2015}}</ref>


== Corporate Social Responsibility ==
== Philanthropy ==
In 2020, Kotak pledged to donate {{INR|50 crore}} to the [[PM CARES Fund]] to fight against the [[COVID-19 pandemic]] in India.<ref>{{Cite web|date=29 March 2020|title=Kotak Mahindra Bank, Uday Kotak jointly pledge ₹50 crore to PM-CARES Fund|url=https://www.livemint.com/news/india/kotak-mahindra-bank-uday-kotak-jointly-pledge-rs-50-crore-to-pm-cares-fund-11585477616252.html|access-date=2 July 2020|website=Livemint|language=en}}</ref>
In 2020, Kotak pledged to donate {{INR|50 crore}} to the [[PM CARES Fund]] to fight against the [[COVID-19 pandemic]] in India.<ref>{{Cite web|date=29 March 2020|title=Kotak Mahindra Bank, Uday Kotak jointly pledge ₹50 to PM-CARES Fund|url=https://www.livemint.com/news/india/kotak-mahindra-bank-uday-kotak-jointly-pledge-rs-50-crore-to-pm-cares-fund-11585477616252.html|access-date=2 July 2020|website=Livemint|language=en}}</ref>


==See also==
==See also==
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* [[Banking in India]]
* [[Banking in India]]
* [[List of banks in India]]
* [[List of banks in India]]
* [[Reserve Bank of India]]
* [[Indian Financial System Code]]
* [[Indian Financial System Code]]
* [[List of largest banks]]
* [[List of companies of India]]
* [[Make in India]]


==References==
==References==
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