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Kotak Mahindra Bank on course to have 16 million customer base by September: Uday Kotak
Posted on 15th June 2018
Private sector lender Kotak Mahindra Bank (KMB) is on course to have a customer base of 16 million by September, from the current level of 13 million, which also includes the bank’s 811 customers, managing director and CEO Uday Kotak wrote to the bank’s shareholders in its 2017-18 annual report. “On March 29, 2017, while launching 811, we had made a commitment to double our customer base in 18 months, that is, to about 16 million by September 2018,” he said.

‘Hold’ on Kotak Mahindra Bank; expect subsidiaries to add value
Posted on 15th May 2018
Kotak Mahindra Bank’s Q4FY18 PAT at Rs 1,120 crore was marginally lower than our estimate as it took a one-time hit of Rs 82 crore on employee expenses and did not avail RBI dispensation on amortization of mark-to-market losses. Loan growth at 25% YoY gained momentum and management continues to guide for 20% YoY growth in FY19.

Kotak Mahindra Bank provides biggest boost to Sensex gains
Posted on 3rd May 2018
India’s benchmark equity index just managed to close in the green after swinging between gains and losses as weak sentiment in Asia offset the good cheer from strong auto sales in April.

The S&P BSE Sensex rose 0.1 per cent to 35,176.42 after falling as much as 0.3 per cent. The measure swung between gains and losses at least a dozen times. All but two of the 19 sector sub-indexes compiled by BSE fell, led by an index of metal stocks.

Kotak Mahindra Bank pips ONGC in market cap to enter top 10 club; to topple Infosys, Maruti Suzuki next?
Posted on 2nd May 2018
Kotak Mahindra Bank Market Capitalisation: In a major development in the stock market proceedings on Wednesday, India’s fourth-largest private sector lender Kotak Mahindra Bank market capitalisation surpassed that of ONGC to enter the top 10 club by market capitalisation in India. Shares of Uday Kotak-led Kotak Mahindra Bank was among the top gainers among the components of BSE Sensex since the morning trades on Wednesday.

Kotak Mahindra Bank consolidated Q4 net up 27% to Rs 17.89 billion
Posted on 30th April 2018
Kotak Mahindra Bank on Friday reported 27 per cent rise in its fourth quarter consolidated net profit for 2017-18 on healthy growth in advances and higher base of low cost deposits.

Profit after tax on a consolidated level rose to Rs 17.89 billion for the quarter ended March 2018, from Rs 14.04 billion in the year ago period.

Kotak Mahindra Bank topples SBI to become India’s 2nd largest bank by market cap
Posted on 16th April 2018
The Mumbai-based Kotak Mahindra Bank led by Asia’s richest banker Uday Kotak became India’s second-largest bank by market capitalisation on Monday surpassing India’s largest bank by asset State Bank of India to grab the spot. Kotak Mahindra Bank is now behind the market capitalisation leader among all the banking scrips HDFC Bank which also features among the exhaustive club of Rs 5 lakh crore market capitalisation.

Will Kotak Mahindra acquire Axis Bank? Here’s why Nomura thinks it’s the best time
Posted on 12th April 2018
Following the curtailment of Axis Bank CEO Shikha Sharma’s term, many top market voices including global brokerage firm Nomura believe that its an opportune moment for Uday Kotak-run Kotak Mahindra Bank to takeover the private lender. “With a very short time left in the CEO’s term at Axis Bank, RBI’s pressure on Axis Bank’s management and with an asset quality clean-up exercise continuing, we believe this is the best opportunity for Kotak Bank to acquire or merge with Axis Bank,” Nomura said in its report.

Kotak Mahindra Bank becomes third largest bank by m-cap
Posted on 8th March 2018
The pummeling of bank stocks isn’t bad news for all banks. Kotak Mahindra Bank bucked the trend on Wednesday, with the stock ending in the green. In fact, the shares of the private lender advanced in three sessions of the last six when the Bank Nifty gave up over 6% of its value.

The private lender, which boasts higher market capitalisation than its gross advances, surpassed ICICI Bank in market value last week.

Kotak Mahindra Bank’s Suneet Weling to join BNP Paribas India
Posted on 1st February 2018
Mumbai: Suneet Weling, executive director at the investment banking division of Kotak Mahindra Bank, will join French banking group BNP Paribas’s Indian arm as managing director and head of advisory, capital markets and financing, said multiple people aware of the development.

Weling has advised several Indian and international companies on mergers and acquisitions and capital-raising in India during his seven-year stint at Kotak Mahindra.

Gold only cryptocurrency to have worked, says Uday Kotak
Posted on 30th January 2018
A firm believer in formal banking systems, eminent banker Uday Kotak feels gold is the only alternative currency that has worked ever without any state support and sees no regulatory backing in immediate future for numerous crypto currencies that have cropped up. The most famous among all, bitcoin has been seeing a huge traction lately even as its prices have been extremely volatile, surging to close to USD 20,000 per unit a few weeks ago but only to fall below USD 10,000 soon after.

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