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| type = [[Public company|Public]] | | type = [[Public company|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 = {{ISIN|sl=n|pl=y|INE237A01028}} | ||
| industry = [[Financial services]] | | industry = [[Financial services]] | ||
| 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 = [[Uday Kotak]] {{small|(Chairman, MD & CEO)}} | | key_people = [[Uday Kotak]]<br />{{small|(Chairman, MD & CEO)}} | ||
| revenue = {{Increase}} {{INRConvert| | | revenue = {{Increase}} {{INRConvert|58882|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 = | | revenue_year = 2022 | ||
| operating_income = {{Increase}} {{INRConvert| | | operating_income = {{Increase}} {{INRConvert|16719|c}}<ref name=is/> | ||
| income_year = | | income_year = 2022 | ||
| net_income = {{Increase}} {{INRConvert| | | net_income = {{Increase}} {{INRConvert|11932|c}}<ref name=is/> | ||
| net_income_year = | | net_income_year = 2022 | ||
| assets = {{Increase}} {{INRConvert| | | assets = {{Increase}} {{INRConvert|546497|c}}<ref name=bsl>{{Cite web|title=Kotak Mahindra Bank Consolidated Balance Sheet, Kotak Mahindra Bank Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/kotakmahindrabank/consolidated-balance-sheetVI/KMB|access-date=31 August 2020|website=moneycontrol.com|language=en}}</ref> | ||
| assets_year = | | assets_year = 2022 | ||
| equity = {{Increase}} {{INRConvert| | | equity = {{Increase}} {{INRConvert|95641|c}}<ref name=bsl/> | ||
| equity_year = | | equity_year = 2022 | ||
| num_employees = | | num_employees = 71000 (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| | | foundation = {{Start date and age|1985|||df=yes}} | ||
| location = [[Mumbai]], [[Maharashtra]], 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 | | subsid = {{ubl|[[Kotak Mahindra General Insurance]]|[[Kotak Life Insurance]]|[[Kotak Mutual Fund|Kotak Mahindra AMC]]|[[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}} | ||
| homepage = {{official URL}} | |||
| homepage = {{URL | |||
}} | }} | ||
'''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 | '''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 [[market capitalisation]] after [[HDFC Bank]] and [[ICICI Bank]].<ref>{{cite news|title=List of private banks by market capitalization |url=https://www.moneycontrol.com/stocks/marketinfo/marketcap/bse/bank-private.html|website=moneycontrol.com|access-date=23 April 2019}}</ref> {{As of|February 2021|post=,}} the bank has 1600 branches and 2519 [[Automated teller machine|ATMs]]. | ||
==History== | ==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 | 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, along with [[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> | ||
In the 1990s, the company | In the early 1990s, the company started [[Car finance|car financing]] and [[investment banking]] services, 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 the same year, Kotak Mahindra Finance hived off its investment banking division into a new company, Kotak Mahindra Capital, started in partnership with [[Goldman Sachs]].<ref>{{cite news |title=Retail brokerage's the key unit: Kotak |url=https://economictimes.indiatimes.com/retail-brokerages-the-key-unit-kotak/articleshow/1451993.cms |access-date=22 October 2022 |work=The Economic Times}}</ref> | ||
In | In 1998, Kotak Mahindra Finance started its [[mutual fund]] arm called [[Kotak Mutual Fund|Kotak Mahindra AMC]].<ref>{{cite news |title=Kotak Mahindra Asset Management Company Limited |url=https://www.careratings.com/upload/CompanyFiles/PR/05072021061859_Kotak_Mahindra_Asset_Management_Company_Limited.pdf |access-date=22 October 2022 |work=CARE Ratings}}</ref> In 2001, OM Kotak Mahindra Life Insurance 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 | 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 |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 | 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> Kotak Mahindra Primus was subsequently renamed as Kotak Mahindra Prime.<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 2006, Kotak Mahindra Bank bought out Goldman Sachs' 25% stake in Kotak Mahindra Capital for {{INRconvert|210|c|year=2006|mode=historical}} and 25% in Kotak Securities for {{INRconvert|123|c|year=2006|mode=historical}}, turning both companies into its wholly-owned subsidiaries.<ref>{{cite news |title=Kotak, Goldman Sachs part ways - Global financial powerhouse plans $1-bn investment in India |url=https://www.telegraphindia.com/business/kotak-goldman-sachs-part-ways-global-financial-powerhouse-plans-1-bn-investment-in-india/cid/809675 |access-date=22 October 2022 |work=The Telegraph}}</ref> | ||
In 2014, Kotak Mahindra Bank acquired a 15% stake in [[Multi Commodity Exchange]] (MCX) from [[Financial Technologies Group]] for {{INRconvert|459|c|mode=historical|year=2014}} to become the company's largest shareholder.<ref>{{cite news |title=Kotak to buy 15% stake in MCX for Rs 459 cr |url=https://www.business-standard.com/article/companies/kotak-to-buy-15-stake-in-mcx-for-rs-459-cr-114072100046_1.html |access-date=8 November 2022 |work=Business Standard |date=21 July 2014}}</ref> | |||
In 2014, Kotak Mahindra Bank announced the acquisition of [[ING Vysya Bank]] in a deal valued at {{INRConvert|15000|c|year=2015|mode=historical}}. With the merger completed in 2015, 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, obtained a 6.5% stake 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> | |||
[[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]]]] | ||
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> | In 2015, [[Kotak Mahindra General Insurance]], a wholly-owned subsidiary of Kotak Mahindra Bank, started operations after receiving [[Insurance Regulatory and Development Authority|IRDAI]]'s approval.<ref>{{cite news |title=Kotak Mahindra Gen Insurance gets IRDAI nod to commence biz |url=https://www.moneycontrol.com/news/business/companies/kotak-mahindra-gen-insurance-gets-irdai-nod-to-commence-biz-1422853.html |access-date=22 October 2022 |work=Moneycontrol |language=en}}</ref> In 2016, [[Bharti Airtel]] and Kotak Mahindra Bank started a 80:20 [[joint venture]] called [[Airtel Payments Bank]].<ref>{{cite news |title=Airtel Payments Bank launched, with vow to shake up old banking system |url=https://www.livemint.com/Industry/FxxxxsTZvCQuJt4I90upnK/Airtel-Payments-Bank-to-be-launched-today.html |access-date=1 May 2021 |work=mint |date=12 January 2017 |language=en}}</ref> | ||
In 2016, Kotak Mahindra Bank acquired BSS Microfinance for {{INRconvert|139.2|c|mode=historical|year=2016}}.<ref>{{cite news |last1=S |first1=Rajalakshmi |title=Kotak Bank to acquire 99.5% stake in BSS Microfinance |url=https://www.thehindubusinessline.com/money-and-banking/kotak-bank-to-acquire-995-stake-in-bss-microfinance/article9168578.ece |access-date=8 November 2022 |work=The Hindu Business Line |date=30 September 2016 |language=en}}</ref> | |||
In March 2017, Kotak Mahindra Bank launched an [[online savings account]] called Kotak 811, named after the date Prime Minister [[Narendra Modi]] had announced [[2016 Indian banknote demonetisation|demonetisation]] in the previous year,<ref>{{cite news |last1=Balakrishnan |first1=Ravi |title=Life after 8/11: Banks believe the customers will return, once they're done flirting with e-wallets |url=https://economictimes.indiatimes.com/life-after-8/11-banks-believe-the-customers-will-return-once-theyre-done-flirting-with-e-wallets/articleshow/58802874.cms |access-date=7 November 2022 |work=The Economic Times |date=24 May 2017}}</ref> which according to Uday Kotak was "the day that changed India."<ref>{{cite news |title=Kotak Bank Launches 811 'Zero Balance, Zero Charge' Account. Details Here |url=https://www.ndtv.com/business/kotak-bank-launches-811-zero-balance-zero-charge-account-details-here-1675032 |access-date=7 November 2022 |work=NDTV}}</ref> Kotak 811 helped the bank double its number of customers by September 2018.<ref>{{cite news |title=How Kotak Mahindra Bank Scripted Marketing History |url=https://www.forbesindia.com/article/ad-marketing/how-kotak-mahindra-bank-scripted-marketing-history/58221/1 |access-date=7 November 2022 |work=Forbes India |language=en}}</ref> | |||
In April 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> | |||
In 2021, Kotak Mahindra Bank sold its 8.57% stake in Airtel Payments Bank to [[Bharti Enterprises]] for {{INRconvert|295|c|year=2020|mode=historical}}.<ref>{{cite news |title=Kotak Mahindra Bank sells 20 crore shares in Airtel Payments Bank for Rs 295 crore |url=https://telecom.economictimes.indiatimes.com/news/kotak-mahindra-bank-sells-20-crore-shares-in-airtel-payments-bank-for-rs-295-cr/85854702 |access-date=22 October 2022 |work=Economic Times |language=en}}</ref> In the same year, Kotak Mahindra Group acquired the vehicle financing portfolio of [[Volkswagen Group|Volkswagen Finance India]]<ref>{{cite news |title=Kotak Mahindra acquires vehicle financing portfolio of Volkswagen Finance |url=https://www.livemint.com/companies/news/kotak-mahindra-acquires-vehicle-financing-portfolio-of-volkswagen-finance-11631789114490.html |access-date=8 November 2022 |work=Mint |date=16 September 2021 |language=en}}</ref> and passenger vehicle financing portfolio of [[Ford Credit|Ford Credit India]].<ref>{{cite news |title=Kotak Prime acquires passenger vehicle financing portfolio of Ford Credit |url=https://www.livemint.com/companies/news/kotak-prime-acquires-passenger-vehicle-financing-portfolio-of-ford-credit-11640176546172.html |access-date=8 November 2022 |work=Mint |date=22 December 2021 |language=en}}</ref> In 2022, it acquired the agriculture and healthcare equipment financing portfolio of [[DLL Group|DLL India]].<ref>{{cite news |last1=Mishra |first1=Lalatendu |title=Kotak Mahindra Bank acquires agri, healthcare portfolio of DLL India |url=https://www.thehindu.com/business/kotak-mahindra-bank-acquires-agri-healthcare-portfolio-of-dll-india/article65616090.ece |access-date=17 February 2023 |work=The Hindu |date=8 July 2022 |language=en-IN}}</ref> | |||
In | In 2023, Kotak Mahindra Bank acquired microfinancier Sonata Finance for {{INRconvert|537|c}}.<ref>{{cite news |title=Kotak Mahindra Bank acquires microlender Sonata for Rs 537 cr in all cash deal - ET BFSI |url=https://bfsi.economictimes.indiatimes.com/news/nbfc/kotak-mahindra-bank-acquires-microlender-sonata-for-rs-537-cr-in-all-cash-deal/97850482 |access-date=17 February 2023 |work=Economic Times |language=en}}</ref> | ||
== Subsidiaries and associates == | == Subsidiaries and associates == | ||
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== External links == | == External links == | ||
{{Official website|https://www.kotak.com}} | *{{Official website|https://www.kotak.com}} | ||
{{Banking in India}} | {{Banking in India}} | ||
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[[Category:NIFTY 50]] | [[Category:NIFTY 50]] | ||
[[Category:Financial services companies of India]] | [[Category:Financial services companies of India]] | ||
[[Category: | [[Category:1985 establishments in Maharashtra]] | ||
[[Category:BSE SENSEX]] | [[Category:BSE SENSEX]] | ||
[[Category:Kotak Mahindra Bank]] | [[Category:Kotak Mahindra Bank]] | ||
[[Category:Indian companies established in | [[Category:Indian companies established in 1985]] | ||
[[Category:Companies listed on the National Stock Exchange of India]] | [[Category:Companies listed on the National Stock Exchange of India]] | ||
[[Category:Companies listed on the Bombay Stock Exchange]] | [[Category:Companies listed on the Bombay Stock Exchange]] | ||