Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra. The bank's registered office (headquarters) is located at 27BKC, Bandra Kurla Complex, Bandra East, Mumbai, Maharashtra, India.
In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the licence to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank.
As on September 30, 2014, Kotak Mahindra Bank has over 641 branches and over 1,159 ATMs spread across 363 locations in the country. The bank, before merger with ING Vysya had around 29,000 employees.
History
Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank - Kotak Mahindra Bank Limited (KMBL).
In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine (from The Financial Times Stable), KMBL was ranked 245th among the world's top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+. KMBL is also ranked among the top 5 Best Ranked Companies for Corporate Governance in IR Global Ranking.
Timelines
Merger with ING Vysya Bank
In 2014, Kotak Bank acquired ING Vysya Bank for a deal valued at INR15000 crore (US$2.4 billion). With the merger, the total human resource count will jump to almost 40,000 heads and the branch was expected to rise over 1200. Post the merger, ING Group which controlled ING Vysya Bank will own 7% share in Kotak Mahindra Bank.
Awards and recognitions
- Won 'Gold Award for Best Innovation - World's first socially powered bank account' and 'Gold Award for Best App developed - World's first banking application using Twitter' awards at the Indian Digital Media Awards 2014 for Kotak Jifi
- Recognised as Highest Fundraising Company in Corporate Challenge category in Standard Chartered Mumbai Marathon 2014
- Kotak Mahindra Bank was ranked 292nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. In the Brand Trust Report 2013, Kotak Mahindra Bank was ranked 861st among India's most trusted brands and subsequently, according to the Brand Trust Report 2014, Kotak Mahindra Bank was ranked 114th among India's most trusted brands.
- Adjudged Best Bank among Emerging Banks at Outlook Money Awards 2013
- Adjudged Best Medium Sized Bank of the Year 2013 by BusinessWorld
- Kotak Junior ad film adjudged Best Banking Ad Worldwide 2013, by Bank Innovation - a leading global blog on banking
- Won Asian Banker's IT Award in Best Self Service category for Courtesy Call Back feature
- Won 'Platinum for Innovation - World's first Twitter Enabled Banking Product', 'Gold for Best Usage of Viral Marketing', 'Gold for Best Usage of Social Media', 'Gold for Best Usage of Digital Marketing' and 'Gold for Best Digital Strategy' at Campaign India Digital Crest Awards 2013 for Kotak Jifi
- Won EMC Transformer Award 2013 for innovative implementation of storage technologies in the Bank
- Won National Securities Depository Ltd. (NSDL) award in the Best Performer in account Growth Rate category 2013, for Demat Accounts
- Won EMC Transformer Award 2013 for innovative implementation of storage technologies in the Bank
- Won National Securities Depository Ltd. (NSDL) award in the Best Performer in account Growth Rate category 2013, for Demat Accounts
- Won Green IT Enterprise Award 2013 by CIO Forum and Schneider Electric for various power and saving techniques implemented in Data Centre (Was also ranked among the Top 10 in the Large Enterprises category)
- Received award for Innovative Use of Data Storage at the CNBC TV18 India Innovation Award, 2013
- Won the award for the Best Managed Board by Aon Hewitt-Mint Study 2012
- Won the Best Bank Award under the New Private Sector Bank category (runner-up) at the Financial Express Awards
- Voted as the Best Local Cash Management Bank in India for small companies (turnover < US$100 million) by Asiamoney, 2012
- Won the Silver Effie - a prestigious advertising effectiveness award for the 6% campaign featuring Subbu in the financial services category
- Won the Asian e-payment Awards at the Asian Leadership Awards in the Best e-Payment Bank, the Best Online Payment Platform and e-Payment Market Leadership category
- Won the Celent Model Bank Award for core banking implementation in the category Infrastructure & Architecture
- Won the Security in Bank award by Data Security Council of India (DSCI) at the DSCI Excellence Awards, 2012
- Won the IT Transformer's Award at The EMC Transformer's Awards, 2012
- Won the Gold award at the Trade & Forfaiting Review (TFR) Awards 2012, under the category, Best Local Trade Bank in India
References
External links
- Kotak Group website
- Kotak Securities
Interesting Informations
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