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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. [6]
Kotak Mutual Fund is an Indian mutual fund that is managed by Mahindra Asset Management Company (KMAMC). KMAMC started operations in December 1998 and as of 2018, had approximately 74 Lakh investors in various schemes. [6] The fund is a wholly-owned subsidiary of Kotak Mahindra Bank.
Kotak Mahindra Bank: KOTAKBANK.BO 500247 Banking - Private: 19 June 2017 [6] Larsen & Toubro: LT.BO 500510 Engineering & Construction: Mahindra & Mahindra: M&M.BO 500520 Automobile: Maruti Suzuki: MARUTI.BO 532500 Automobile: Nestlé India: NESTLEIND.BO 500790 23 December 2019 [7] NTPC: NTPC.BO 532555 Power Grid: POWERGRID.BO 532898 20 June ...
Uday Suresh Kotak (born 15 March 1959) is an Indian billionaire banker and founder of Kotak Mahindra Bank, where he is a non-executive director. [2] He resigned from his CEO position in September 2023. [ 3 ]
He is the founder and CIO of IKIGAI Asset Manager. Before founding IKIGAI, Pankaj was the senior executive vice president and fund manager at Kotak Mahindra AMC. [1] He has been featured in the Best Fund Manager rankings of ET Wealth-Morningstar consecutively six times from 2016 to 2022. [2] [3]
On 20 November 2014, in an all-stock amalgamation, ING Vysya Bank decided to merge with Kotak Mahindra Bank, creating the fourth largest private sector bank in India. [8] On 1 April 2015, the Reserve Bank of India approved the merger. On 15 May 2016 the whole merger process was completed. [9]
In August 2021, Kotak Mahindra sold its stake to Bharti Enterprises. As of 31 December 2021, 99.9% equity capital of the Bank is owned by the Bharti Group of Companies. The bank turned profitable in the quarter ended 30 September 2021, with an annual revenue run rate of ₹1,000 crore. [10]
The Kotak Mahindra Group was founded in 1985 as a provider of financial services. [8] [9] In February 2003, Kotak Mahindra Finance Ltd (KMFL), the Group's flagship company, received banking license from the Reserve Bank of India (RBI) to conduct banking operations in the country and was renamed as Kotak Mahindra Bank, the parent company of Kotak Life Insurance. [10]