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Also 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.
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.
According to Forbes, it is considered one of the World’s Best Banks and one of the top 2000 largest public companies in the world.
Kotak Mahindra Bank Ltd. is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. It was founded in February 2003, when Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.
In March 2005 they opened their eighth retail-banking branch at Napean Sea Road in Mumbai.
He opened a representative office in Dubai of Kotak Mahindra Bank in 2009.
On 20 November 2014 Kotak Mahindra Bank and ING Vysya Bank Ltd. (IVBL) announced the scheme of merger.
As of June 30 2016 BSS has a networth of approximately Rs 73 crore and micro finance loans of Rs 483 crore in its books.
The bank reduced its base rate by 10 basis points to 9.3% p.a. with effect from 6 January 2017.On 29 March 2017 Kotak Mahindra Bank announced the launch of 811' India's unique full-service digital banking ecosystem on mobile that will drive the bank's organic growth agenda.
The QIP issued opened for subscription on 11 May 2017 and closed on 16 May 2017.
2017 – Ranked 8th in India’s 50 most powerful people.
2019 – One of the most highly paid CEO among the Indian banks.
The writ petition is pending.During the year 2019 Kotak Securities (KS) launched FIT (Free Intraday Trading) a subscription based product targeted at online customers.
As on 31 March 2020 the bank has 19 subsidiaries and 4 associate companies under its roof.Pursuant to the approval of the Board of Directors on 22 April 2020 and approval of the shareholders by way of postal ballot on 25 May 2020 the bank undertook a Qualified Institutions Placement.
In June 2020, Kotak sold some shares to reduce his stake in the bank as mandated by the Reserve Bank of India.
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