Kotak Mahindra Bank Ltd

BSE: 500247 | NSE: KOTAKBANK | ISIN: INE237A01028 
Market Cap: [Rs.Cr.] 96,667.29 | Face Value: [Rs.] 5
Industry: Banks - Private Sector

Company Profile

Kotak Mahindra Bank Ltd is one of the fastest growing bank and among the most admired financial institutions in India. The Bank offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. They have one of the largest and most respected Wealth Management teams in India, providing the widest range of solutions to high net worth individuals, entrepreneurs, business families and employed professionals. The Bank has over 245 branches, a customer base of over 8 lakh and has spread all over India. The Bank offers complete financial solutions for infinite needs of all individual & non-individual customers depending on the customer's need - delivered through a state of the art technology platform. They also offer investment products like Mutual Funds, Life Insurance, retailing of gold coins and bars etc. Apart from Phone banking and Internet banking, they offer convenient banking facility through Mobile banking, SMS services, Netc@rd, Home banking and BillPay facility among others. The Depository services offered by the Bank allows the customers to hold equity shares, government securities, bonds and other securities in electronic or Demat forms. Their Salary 2 Wealth offering provides comprehensive administrative solutions for Corporates with features such as easy and automated web based salary upload process thereby eliminating the paper work involved in the process, a dedicated relationship manager to service the corporate account, customized promotions and tie - ups and many such unique features. The Bank offers comprehensive business solutions for the business community that includes the Current Account, Trade Services, Cash Management Service and Credit Facilities. Their Wholesale banking products offer business banking solutions for long-term investments and working capital needs, advice on mergers and acquisitions and equipment financing. The Bank addresses the entire spectrum of financial needs of Non-Resident Indians. Their tie-up with the Overseas Indian Facilitation Centre (OIFC) as a strategic partner gives them a platform to share their comprehensive range of banking & investment products and services for Non Resident Indians (NRIs) and Persons of Indian Origin (PIOs). The bank has overseas subsidiaries with offices in Mauritius, London, Dubai, Singapore, New York & San Francisco. The overseas subsidiaries are mainly engaged in investment advisory and investment management of funds, Equity & Debt Trading, management of GDR/ FCCB issuances, broker & broker dealer activities and investments. Kotak Mahindra Bank Ltd was incorporated in the year 1985 with the name Kotak Capital Management Finance Ltd. In April 8, 1986, the company's name was changed Kotak Mahindra Finance Ltd. They started bill discounting activity. In the year 1987, they entered into lease and hire purchase market. In the year 1990, they started car finance division and during next year, they started investment banking division. Alsom they took over FICOM, one of India's largest financial retail marketing networks. In the year 1994, the company formed Kotak Mahindra International in Mauritius and opened an office in Dubai. They formed Kotak Mahindra (UK) formed with office in London. In the year 1996, the car finance business was hived off into a separate company, namely Kotak Mahindra Primus Ltd and Ford Credit took a 40% stake in Kotak Mahindra Primus. In the year1998, they formed Kotak Mahindra Inc with office in New York. In the year 2001, Kotak Securities Ltd became a subsidiary company. In February 2003, the company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval created banking history since Kotak Mahindra Finance Ltd is the first non-banking finance company in India to convert themselves into a bank as Kotak Mahindra Bank Ltd. In March 2003, they commenced banking operations. The Bank started their operations in New Delhi by inaugurating a branch. They entered into ATM sharing agreement with UTI Bank (now known as Axis Bank), in which the Bank customer's were free to access around 800 ATM's. They unveiled several home finance products options that include Home Loan, Home Equity Loan, Home Loan Transfer and Home Improvement Loans. Also, they launched online remittance services called FUNDS to HOME for Non-resident Indians. In January 2005, the Bank opened 29th retail-banking branch at Mehsana in Gujarat. In February 2005, they launched Rajajinagar extension counter in Bangalore and launched free Mobile Banking facility. Also, they launched their branch at Chennai, Tamilnadu. In February 23, 2005, they opened their retail-banking branch in the business capital of Madhya Pradesh. In March 2005, they opened their eighth retail-banking branch at Napean Sea Road in Mumbai. In May 2005, the Bank opened new retail-banking branch at Parry's Corner in Chennai. In June 2005, they opened two retail-banking branches in Delhi at Safdarjung Enclave and Punjabi Bagh. In October 4, 2005, the Bank acquired 40% stake in Kotak Mahindra Primus Ltd (KMP) held by Ford Credit International (FCI) thereby giving the Bank and their subsidiary, complete ownership of KMP. Simultaneously, they also sold their stake in Ford Credit Kotak Mahindra Ltd (FCKM) to FCI. In September 2006, the Bank acquired 51% of the paid up Share capital of Kotak Mahindra Securities Ltd (KMSL) by way of preferential allotment of shares by KMSL to the Bank. In March 2007, the Bank entered into a subscription agreement with International Finance Corporation, whereby the Bank will issue Upper Tier II Subordinated Bonds by way of Debentures of the value of USD 45 million with the final maturity of over 15 years. During the year 2007-08, the Bank increased 73 new full fledged branches & 179 new ATMs, taking the network size to 178 branches and 314 ATMs. They added n new products & services like Gold debit card, smart fee (a fee solution for Educational Institutions), a GPRS based mobile banking, Bill presentment and payment facility, online term deposits etc to meet the needs of the customers. In September 2007, Kotak Mahindra Icn set up a branch in San Francisco. During the year 2008-09, the Bank added 39 branches and 74 ATMs taking the total network size to 217 branches and 387 ATMs (including 175 off site ATMs). They introduced several new features like, Online password, two factor authentication, improved features for security of fund transfers, e-tax payment facility, auto payment of bills, PIN based IVR. During the year 2009-10, the Bank 32 branches, 77 off site and 28 onsite ATMS taking the total number of branches to 249 Nos, 252 Nos off-site ATMs and 240 Nos on-site ATMs. They had a debit card base of 829,876. They opened a representative office in Dubai. Also, they entered Ahmedabad Commodity Exchange as anchor investor. In June 2010, the Bank entered into an agreement with Sumitomo Mitsui Banking Corporation, Japan for a preferential issue of 1.64 crore shares at Rs 833 per share which amounts to approximately 4.5% stake on a post-issue basis for Rs 1,366 crore. During the year 2010-11, the Bank added 72 branches and 246 ATMs and ended the year with 321 Branches and 710 ATMs, and thereby increasing their presence to 183 locations. They also added over half a million new customers this year across core banking products of savings and checking account, term deposits, overdrafts and non resident accounts. During the year, the Bank's Treasury started Correspondent Banking Division to build and leverage on relationships with offshore banks for improving quality and international reach for their customers. Also, the Bank entered into a strategic arrangement with PVR Cinemas, one of the elite name in entertainment industry, to distribute credit card products aimed at upmarket customers. In August 2011, the Bank entered into business cooperation arrangement with CIMB Group Sdn Bhd, Malaysia (CIMB). In October 2011, Kotak Mahindra Capital Company Ltd, a subsidiary of the Bank and Evercore Partners, global investment banking advisory firm headquartered in New York, USA, entered into an exclusive strategic partnership for cross-border M&A advisory services between India and. the United States, the United Kingdom and Mexico. The Bank is looking for possible acquisition targets in the banking, brokerage or asset management space to expand their presence in India. The lender is also looking to expand their presence by increasing their branch network to 500 by 2012 from the current 300. Aslo, the Bank plans to open their maiden overseas branch in Singapore and has applied for a licence to the Indian central bank.

Futures & Options Quote
Expiry Date :
940.80    [3.75] ([0.40]%)
Instrument: FUTSTK
Expiry Date: 31-Jul-2014
Open Price: 947.65
Average Price: 933.08
No. of Contracts Traded: 6,011
Open Interest: 28,58,000
Underlying: KOTAKBANK
Market Lot: 500
Previous Close: 940.80
Day's High | Low: 949.95 | 925.15
Turnover (Cr.): 280.44
Open Int. Change: -9,94,000 ([25.80]% )
Key Information

Key Executives:

Shankar Acharya , Part Time Chairman

Uday Kotak , Executive Vice Chairman & MD

Asim Ghosh , Director

C Jayaram , Joint Managing Director


Company Head Office / Quarters:

27 BKC C-27 G-Block,
Bandra Kurla Complex Bandra(E),
Mumbai,
Maharashtra-400051
Phone : Maharashtra-91-22-61660000 / Maharashtra-
Fax : Maharashtra-91-22-67132403 / Maharashtra-
E-mail : investor.greivances@kotak.com
Web : http://www.kotak.com

Registrars:

Karvy Computershare Pvt Ltd
Plot No 17-24 ,Vittal Rao Nagar ,Madhapur ,Hyderabad-500081

 
Fund Holding
 
 
Better Investment Avenue

Check whether Taxed / Tax free investment avenue is better for you

  Taxed Avenue Tax-Free Avenue
Investment amount (Rs.)  
Tenure of Investment (years)  
Interest earned (% p.a)
Compounded every
Your tax bracket (%)