Kotak Mahindra Bank is an Indian private sector bank headquartered in Mumbai India. In 2002 RBI gave an in principle nod to Kotak Mahindra Finance to convert itself into a bank and in February 2003, Reserve Bank of India (RBI) issued the licence to Kotak Mahindra Finance Ltd., the group's flagship company, to carry on banking business.
The company was incorporated on 21st November 1985 under the name Kotak Capital Management Finance Ltd. The Company has been promoted by Mr Uday S Kotak, Mr S.A.A Pinto and Kotak & Company. The company obtained the certificate of commencement of business on 11th February 1986 and the Existing promoters were joined by Mr Harish Mahindra and Mr Anand Mahindra. The company's name was changed on 8th April 1986 to its present name Kotak Mahindra Finance Ltd.
Kotak Mahindra Bank - Stock Price July 5, 2002 - November 20, 2018
(Source : www.nseindia.com)
Stock Price as on July 5, 2002: Rs.8.34/- per share
Stock Price as on November 20, 2018: Rs. 1169.20/- per share
In 2015, Kotak Bank acquired ING Vyasya Bank in a deal valued at ₹15,000 crore (US$2.1 billion). With the merger, total employment jumped to almost 40,000, and the count of branches reached 1261. After the merger, ING Group which controlled ING Vysya Bank, owned a 7% share in Kotak Mahindra Bank.
2018 awards :
- Best Mid-Sized Bank at Business Today Best Banks Awards 2018
- Best Mid-Size Bank at Businessworld Magna Awards 2018
- Investment Bank of the Year – M&A
- Asiamoney Best Bank Awards 2018 (India)
2017 awards :
- Best Bank – Domestic, India at The Asset Triple A Country Awards 2017
- Best Bank in India at Asiamoney's Cash Management Customer Satisfaction Awards 2017.
- Best Digital Bank (Online Transaction) Award at D&B Banking Awards 2017
- Best Growing Mid-Size Bank Award at Businessworld's Magna Best Banks Awards 2017
- Best Cash Management Bank in India at the Asian Banker Transaction Banking Awards 2017
- Three awards won at Infosys Finacle Client Innovation Awards 2017 for 'Digital Account Opening' process in the Channels Innovation category, 'Cash Management System Platform' in the Process Innovation category and 'DIGI Service Requests Automation' in the Process Innovation category.
(Source : www.nseindia.com, www.kotak.com, www.wikipedia.com)
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