Sunday, June 22

Tag: Kotak Mahindra Bank

Kotak Mahindra Bank Announces Results
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Announces Results

Mumbai, 3rdMay, 2025.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the audited standalone and consolidated results for the quarterand financial year ended March 31, 2025, at the Board meeting held in Mumbai, today.Consolidated results at a glanceConsolidated PAT for FY25 increased to₹ 22,126 crore(including gain on divestment of KGI of ₹3,013 crore) from ₹ 18,213 crore in FY24, up 21% YoY. Consolidated PAT for FY25 excludinggain on divestment of KGI stood at ₹19,113 crore, up 5% YoY. Consolidated PAT for Q4FY25 stood at ₹ 4,933 crore(₹ 5,337 crore in Q4FY24).PAT of Bank and key subsidiaries given below:PAT (₹crore)Q4FY25Q4FY24FY25FY24Kotak Mahindra Bank3,5524,13316,450113,782Kotak Securities3483781,6401,226Kotak Mahindra Prime2972231,015888Kotak As...
Read More
Kotak Mahindra Bank Announces Appointment of Bhavnish Lathia as Chief Technology Officer
No Comments
Business News, Feature

Kotak Mahindra Bank Announces Appointment of Bhavnish Lathia as Chief Technology Officer

Mumbai, March, 2025.Kotak Mahindra Bank today announced the appointment of Bhavnish Lathia as the new Chief Technology Officer (CTO) for the Bank.Announcing the appointment, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said, "Bhavnish has been instrumental in driving our technology initiatives for the last three years, building a world-class team of engineers to help drive our technology agenda. The rapid deployment of technology, with business leaders working closely with their respective technology teams, will be key to transforming our businesses for scale. This approach will drive customer satisfaction and organizational efficiency. And with Bhavnish's leadership, we will achieve our ambitious agenda and set the bar for technology leadership in the banking industry."...
Read More
Kotak’s New Brand Philosophy ‘Hausla Hai Toh Ho Jayega’ Reflects the Spirit of Aspirational India 
No Comments
Business News, Feature

Kotak’s New Brand Philosophy ‘Hausla Hai Toh Ho Jayega’ Reflects the Spirit of Aspirational India 

Mumbai, February, 2025.Kotak Mahindra Bank (“KMBL” / “Kotak”) today introduced ‘Hausla Hai Toh Ho Jayega’—a transformative new group brand philosophy that marks a pivotal movement for Kotak. This powerful new group brand philosophy reinforces Kotak’s commitment to not just evolve as a Bank but to establish itself as the go-to financial services organisation for the Aspirational Indian. To bring this philosophy to life, Kotak is rolling out a high-impact multi-channel marketing campaign, spanning television, digital, print, outdoor, and social media, aimed at inspiring Indians to take big steps toward fulfilling their aspirations.Launching the campaign, Rohit Bhasin, President – Head Affluent, NRI, Business Banking and Chief Marketing Officer, Kotak Mahindra Bank, stated, ...
Read More
Kotak Mahindra Bank Announces Key Leadership Appointments
No Comments
Business News, Feature

Kotak Mahindra Bank Announces Key Leadership Appointments

Mumbai, February 20, 2025.Kotak Mahindra Bank today announced the appointments of Vyomesh Kapasi as the new Head of Products - Consumer Bank at Kotak Mahindra Bank and Shahrukh Todiwala as the new MD & CEO of Kotak Mahindra Prime Limited (KMPL).Announcing the changes, Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, said, "These appointments underscore the deep bench strength at Kotak and our commitment to fostering leadership talent. Vyomesh's extensive experience and proven track record in driving growth and innovation will be invaluable as we continue to enhance our consumer products. Shahrukh's deep understanding of the vehicle financing market will ensure that KMPL continues to thrive and deliver exceptional value to our clients and stakeholders."Vyomesh joins Kotak...
Read More
Kotak Mahindra Bank Announces Results
No Comments
Business News, Feature

Kotak Mahindra Bank Announces Results

Mumbai, 18th January, 2025.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter ended December 31, 2024, at the Board meeting held in Mumbai, today.Consolidated results at a glanceConsolidated PAT for Q3FY25 increased to ₹ 4,701 crore from ₹ 4,265 crore in Q3FY24, up 10% YoY and for 9MFY25 (before KGI divestment) increased to ₹ 14,180 crore from ₹ 12,876 crore in 9MFY24, up 10% YoY.PAT of Bank and key subsidiaries given below:PAT (₹ crore)Q3FY25Q3FY249MFY259MFY24Kotak Mahindra Bank3,3053,00510,1689,648Kotak Securities4483061,293849Kotak Asset Management &Trustee Company240146612375Kotak Mahindra Prime218239718666Kotak Mahindra Life Insurance164140697579Kotak Mahindra Investments10715738...
Read More
Kotak Mahindra Bank Launches 3rd Edition of ‘Sehat Ka Safar’ – Nationwide Health Check-Up Camps for Commercial Vehicle Drivers
No Comments
Feature, Health News, National News

Kotak Mahindra Bank Launches 3rd Edition of ‘Sehat Ka Safar’ – Nationwide Health Check-Up Camps for Commercial Vehicle Drivers

Mumbai 7th January, 2025.Kotak Mahindra Bank (“KMBL” / “Kotak”) proudly announces thelaunch of the third edition of its impactful CSR initiative, ‘Sehat Ka Safar,’dedicated to promoting the health and well-being of India’s commercial vehicle drivers. This year, the initiative will expand its reachto 45 strategic locations from 30 locations in the previous edition, potentially benefitting approximately 4,000 truck drivers with free health check-up camps.These camps, held across high-density transport hubs in key cities such asDuliajan, Durgapur, Patna, Delhi, Coimbatore, Bhopal, and more, reinforce Kotak’s commitment to enhancing the lives of drivers who play a crucial role in the nation’s economy.In addition to health check-ups, counsellors at the camps will educate drivers on ...
Read More
Kotak Mahindra Bank Eyes Major Growth in Rajasthan’s SME Sector
No Comments
Business News, Feature, Rajasthan News

Kotak Mahindra Bank Eyes Major Growth in Rajasthan’s SME Sector

Jaipur December 20,2024.Kotak Mahindra Bank has announced ambitious plans to grow its Small and Medium Enterprises (SME) business in Rajasthan. Over the past 18 months, the bank has expanded its SME presence across Kota, Pali, Bhilwara, Balotra and Alwar, in addition to existing coverage in Jaipur, Udaipur and Jodhpur. Leveraging on the local insights and growth opportunity Kotak witnessed substantial growth in the SME customer base and loan book, reflecting the increasing demand from the segment.Shekhar Bhandari, President of SME at Kotak Mahindra Bank, highlighted that SMEs in Rajasthan are now among the bank's fastest-growing markets. "Rajasthan, with its vibrant economy and diverse industries such as handicrafts, industrial machinery, agriculture, gems and jewellery, real estat...
Read More
No Comments
Business News, Feature

Kotak Mahindra Bank Announces Results

Mumbai,  October, 2024.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and half-year ended September 30, 2024, at the Board meeting held in Mumbai, today.Consolidated results at a glanceConsolidated PAT for Q2FY25 was ₹ 5,044 crore, up 13% YoY from ₹ 4,461 crore in Q2FY24. PAT of Bank and key subsidiaries given below:PAT (₹ crore)Q2FY25Q2FY24Kotak Mahindra Bank3,3443,191Kotak Securities444324Kotak Mahindra Life Insurance360247Kotak Mahindra Prime269208Kotak Asset Management &Trustee Company197124Kotak Mahindra Investments141126Kotak Mahindra Capital Company9027BSS Microfinance16108At the consolidated level, Return on Assets (ROA) for Q2FY25 (annualized) was 2.53% (2.68% f...
Read More
No Comments
Business News, Feature, National News

Kotak Mahindra Bank to Acquire Standard Chartered Bank, India’s Personal Loan Book

Mumbai, October 2024.Kotak Mahindra Bank Limited (“KMBL”) today announced that it has entered into an agreement to acquire the Personal Loan book (“Proposed Transaction”) of Standard Chartered Bank, India, further strengthening its position in the Retail Credit market.As of September 30, 2024, Proposed Transaction comprises a total loan outstanding of around ₹4,100 crore (equivalent to ~$490 million). The Proposed Transaction consists of loans classified as “Standard Loans” as per the Reserve Bank of India (RBI) guidelines. The transaction is expected to be completed over the next three months, subject to regulatory and other approvals and the satisfaction or waiver of customary closing conditionsand KMBL will acquire the loan book, which will be outstanding closer to the completio...
Read More
No Comments
Business News, Feature, National News

Kotak Mahindra Bank to offer an exciting Cash-back on the all-new iPhone 16 lineup in India

Mumbai,  September 2024.Kotak Mahindra Bank Limited (“KMBL/Kotak”) is offering exciting deals on the new iPhone 16 line up, featuring larger display sizes, Camera Control, innovative pro camera features, and a huge leap in battery life — powered by the fast, efficient A18 Prochip and built for Apple Intelligence.Through this special offer Kotak’s credit card customers will enjoy an instant cash-back of Rs5000 on the purchase of the new iPhone 16 series using Kotak Credit Card and Credit Card EMI. The offer is also valid on Apple Watch Series 10, Apple Watch Ultra 2, AirPods 4 and AirPods 4with ANC.The purchases becomes even more affordable with the Credit Card EMI, where the bill amount is split in to affordable monthly payments with 6 month No Cost EMI.The offer can be avai...
Read More
No Comments
Feature, National News

Kotak Mahindra Bank Announces Appointment of Kedarswamy Ravangave as Head of Marketing for Consumer and Commercial Bank

Mumbai, August 2024.Kotak Mahindra Bank Ltd (“KMBL” / “Bank”) announced the appointment of Kedarswamy (Kedar) Ravangave as Head of Marketing for Consumer and Commercial Bank.Kedar joins Kotak Mahindra Bank from Amazon India, where he was a pivotal member of the leadership team, driving marketing, brand, and category initiatives. With extensive experience across esteemed organizations like Marico and Amazon India, Kedar brings a wealth of knowledge and expertise to Kotak. He holds a B.Tech in Electronics and Communication from Malaviya National Institute of Technology Jaipur and an MBA from Symbiosis Institute of Business Management, Pune.Kedar will be working closely with Consumer and Commercial Bank business teams on driving marketing initiatives and shall report to Rohit Bhas...
Read More
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Appoints SK Honneshas Group General Counsel

Mumbai, 25th July 2024.Kotak Mahindra Bank Ltd. (“KMBL” / “Bank”) today announced the appointment of SK Honnesh as Group General Counsel. With over 25 years of distinguished experience in Legal and Compliance, Honnesh brings valuable expertise to the role. As Group General Counsel, he will oversee Legal, Secretarial, and Compliance functions across the Kotak Group.Honnesh joins Kotak from Piramal Enterprises Limited, where he served as Group General Counsel for nearly 12 years. Prior to this, he held the position of Vice President – Legal at Reliance Industries Limited.A graduate of National Law School of India University, Bengaluru, and a member of the Bar Council of Maharashtra and Goa, Honnesh brings extensive expertise in managing strategic transactions, legal issues and li...
Read More
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Announces Results for Q1 FY25

Mumbai, 20th July, 2024.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter ended June 30, 2024, at the Board meeting held in Mumbai, today.Divestment of stake in Kotak General Insurance to Zurich Insurance GroupQ1FY25 saw the completion of a landmark deal in General Insurance sector with Zurich Insurance Group taking a 70% stake in Kotak General Insurance. The alliance brings together Zurich’s global insurance leadership and scale with Kotak’s local expertise and reach. Post this transaction, KMBL holds 30% stake in KGI and will continue to act as corporate agent of KGI for distribution of general insurance products.The above transaction has resulted in an increase in the consolidated PAT by ...
Read More
Kotak Mahindra Bank Announces New Distribution Structure to Enhance Customer Experience
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Announces New Distribution Structure to Enhance Customer Experience

Mumbai, 16th July 2024.Aligned to its vision of keeping customer at the centre, Kotak Mahindra Bank Limited (“KMBL”/“Kotak”)today unveiled its new Distribution structure as part of its growth strategy. This is aimed at bringing together all the ways in which our customers interact with the Bank and to deliver an omni-channel seamless experience across all Group products and services, thereby elevating service standards and operational efficiency.The Distribution structure integrates the Physical branch network, Digital Branch channel (encompassing Mobile Banking and Net Banking platforms) and the Voice channel. This strategic initiative aims to ensure a seamless experience for customers across all interaction channels by building synergy and improving service delivery.To leadth...
Read More
Amit Mohan, President, Logistics and Infrastructure, Kotak Mahindra Bank on Commercial Vehicle Industry Sales Figure
No Comments
Automobile News, Business News, Feature, National News

Amit Mohan, President, Logistics and Infrastructure, Kotak Mahindra Bank on Commercial Vehicle Industry Sales Figure

New Delhi, July 2024.’Passenger transport segment demand continues to be strong even as the overall Commercial Vehicles space has been flat from May 24. On a YOY basis for June 2024, there is a 6% de-growth.Even in the Q1 nos, the CV sales show a meagre 1% gain, YOY. Relative to our expectations of 4-5% growth in Q1, the industry growth remained moderated owing to general elections and the heatwave which had restricted the momentum to some extent. In June’24, LCV segment has shown good growth over the last year while CV largely remains flat & SCV has registered de-growth. Although there is de-growth in goods segment but the momentum in the passenger segment continues and it has grown by 55% over June’23.This augurs well for the passenger transport segment which is witness...
Read More
Kotak Mahindra Bank Appoints Ms. Ketaki Bhagwati as an Independent Director on its Board
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Appoints Ms. Ketaki Bhagwati as an Independent Director on its Board

Mumbai, 19 May 2024.Kotak Mahindra Bank Limited ("Bank") today announced the appointment of Ms. Ketaki Bhagwati as an Independent Director on the Bank’s Board for a period of four years, effective May 18, 2024, subject to the approval of the members of the Bank.Announcing the appointment, Mr. C S Rajan, Independent Director and Part-time Chairman, Kotak Mahindra Bank, commented, “We are elated to welcome Ms. Ketaki Bhagwati to the Bank’s Board of Directors. Her extensive experience of over three decades in the banking and financial services industry will help the Bank achieve its growth objectives in the coming months and years. The Board looks forward to working together with Ms. Bhagwati and benefiting from her guidance in key business segments.”Ms. Bhagwati currently serves ...
Read More
Kotak Mahindra Bank Announces Results
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Announces Results

Mumbai, 4thMay, 2024.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the auditedstandaloneandconsolidatedresultsforthequarterandfinancialyearendedMarch31,2024,atthe Board meeting held in Mumbai, today.KotakMahindraBankstandaloneresultsThe Bank’s PAT for FY24 increased to ₹ 13,782 crore from ₹ 10,939 crore in FY23, up 26% YoY. PAT for Q4FY24stoodat₹4,133crore,up18%YoYfrom₹3,496croreinQ4FY23(up38%QoQfrom₹3,005crore in Q3FY24).Net InterestIncome(NII)forFY24increasedto₹25,993crore,from₹21,552croreinFY23,up21%YoYand for Q4FY24 increasedto ₹6,909 crore, from ₹ 6,103 crore inQ4FY23, up 13%YoY (up 5% QoQfrom ₹ 6,554 crore in Q3FY24). Net Interest Margin (NIM) was 5.28% for Q4FY24.Fees and services for FY24 increased to ₹ 8,464 crore from ₹ 6,790 crore in FY2...
Read More
Kotak Announces Departure of KVS Manian, Joint Managing Director from the Group
No Comments
Feature, National News

Kotak Announces Departure of KVS Manian, Joint Managing Director from the Group

Mumbai, May 01, 2024.Kotak Mahindra Bank (‘the Bank’) today informed the exchanges that KVS Manian, Whole Time Director designated as Joint Managing Director has stepped down from his position to pursue other opportunities in the Financial Services sector. The Board has accepted his resignation with immediate effect.Leveraging its strong leadership strength, the Bank announced a new reporting structure to drive a sharper focusand leadership oversight to its business.The Wholesale, Commercial and Private Bank will now report directly to Ashok Vaswani, Managing Director&CEO, while the Asset Reconstruction Division will report into Shanti Ekambaram, Deputy Managing Director. Shanti will also oversee the Investment Banking and Institutional Equities businesses.Commenting on...
Read More
Kotak Mahindra Bank barred from onboarding new online customers
No Comments
Feature, National News

Kotak Mahindra Bank barred from onboarding new online customers

New Delhi, April 24, 2024.The Reserve Bank of India (RBI) has directed Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels on Wednesday."The Reserve Bank of India has today, in exercise of its powers under Section 35A of the Banking Regulation Act, 1949, directed Kotak Mahindra Bank Limited (hereinafter referred to as ‘the bank’) to cease and desist, with immediate effect, from (i) onboarding of new customers through its online and mobile banking channels and (ii) issuing fresh credit cards," said RBI in its statement.
Read More
Kotak Organises ‘Sehat Ka Safar’ – Nationwide Health Checkup Drive for Truck Drivers
No Comments
Feature, Health News, National News

Kotak Organises ‘Sehat Ka Safar’ – Nationwide Health Checkup Drive for Truck Drivers

Mumbai, March, 2024. Kotak Mahindra Bank ("KMBL" / "Kotak") has unveiled the 2nd edition of 'Sehat Ka Safar', a Kotak Karma initiative, dedicated to prioritizing the physical well-being of truck drivers nationwide.Under this initiative, Kotak is hosting complimentary health check-up camps tailored specifically for this vital workforce. These camps will offer free medical consultations and a range of tests, addressing the health and wellness needs of around 3,000 truck drivers across the country through ‘Sehat Ka Safar’. Services such as eyecheck-ups, assessments by physiotherapists/orthopedic specialists for posture evaluation, dental checks for initial screenings of oral cancer, and an overall health check covering blood pressure, blood sugar among others, will be provided. A...
Read More
Kotak Mahindra Bank Announces Results- Q3 FY2023-24
No Comments
Business News, Feature, National News

Kotak Mahindra Bank Announces Results- Q3 FY2023-24

Mumbai, January, 2024.The Board of Directors of Kotak Mahindra Bank (“the Bank”) approved the unaudited standalone and consolidated results for the quarter and nine monthsended December 31, 2023, at the Board meeting held in Mumbai, today.Kotak Mahindra Bank standalone resultsThe Bank’s PAT for 9MFY24 increased to ₹ 9,648 crore from ₹ 7,444 crore in 9MFY23, up 30% YoY. PATfor Q3FY24 stood at ₹3,005 crore, up 8% YoY from ₹ 2,792 crore in Q3FY23.  Q3FY24 results for the Bank include ₹143 cr provision (post tax) on applicable Alternate Investment Fund (AIF) investments pursuant to RBI’s circular dated December 19, 2023.Net Interest Income (NII) for 9MFY24 increased to ₹ 19,084 crore, from ₹ 15,449 crore in 9MFY23, up 24% YoY and for Q3FY24 increased to ₹ 6,554 crore, from...
Read More
Anupam Kaura joins Kotak Mahindra Bank as its Chief Human Resources Officer
No Comments
Business News, Feature, National News

Anupam Kaura joins Kotak Mahindra Bank as its Chief Human Resources Officer

Mumbai,3rd January 2024.Kotak Mahindra Bank Limited (“KMBL”/“Kotak”)today announced the appointment of Anupam Kaura as Chief Human Resources Officer (CHRO) to spearhead organizational transformation, in the journey of ‘accelerating change’at Kotak. Anupam joins Kotak from CRISIL Ltd, London, UK where as Global Chief Human Resources Officer (CHRO) and overseeing Corporate Administration was responsible for various crucial aspects such as Talent Strategy, Performance and Rewards, Learning and Development (L&D), Culture Transformation, and overall organizational transformation efforts.  In the past year, Kotak has made global hires for key business priorities such as technology, customer experience and product.Anupam brings with him over 25 years of relevant experience in lea...
Read More
Uday Kotak, the founder and director of Kotak Mahindra Bank, Sharing his year end musings
No Comments
Feature, National News

Uday Kotak, the founder and director of Kotak Mahindra Bank, Sharing his year end musings

New Delhi, December 29, 2023.Uday Kotak, the founder and director of Kotak Mahindra Bank, Sharing his year end musings. A Financial Sector Model for India’s dream: 9% annual growth, $30 trillion GDP by 2047.India is transforming from a nation of savers to investors. The tussle between the saver/ borrower and issuer/ investor model is underway.In the early 80s, the Indian saver had low confidence in financial assets versus gold and land. Slowly the saver moved some part to bank deposits, UTI and LIC.Even in the 90s, investing in equities was considered “speculative”. Hence companies looking for capital went to the foreign institutional investor (FII). FIIs saw potential and bought into companies while the Indian saver stayed away. Companies raised capital through the less kn...
Read More
Verified by MonsterInsights