History
It bought stressed assets from a number of banks, at full loan value of Rs 1,000 crore in 2005. In January 2011, the bank reported a 32% rise in net profit to Rs188 crore for the quarter ended December 2010 against Rs. 142 crore the corresponding quarter last year. Kotak Mahindra bank also reached the top 100 most trusted brands of India in The Brand Trust Report published by Trust Research Advisory in 2011.
| Year | Milestone |
|---|---|
| 1986 | Kotak Mahindra Finance Limited starts the activity of Bill Discounting |
| 1987 | Kotak Mahindra Finance Limited enters the Lease and Hire Purchase market |
| 1990 | The Auto Finance division is started |
| 1991 | The Investment Banking Division is started. Takes over FICOM, one of India's largest financial retail marketing networks |
| 1992 | Enters the Funds Syndication sector |
| 1995 | Brokerage and Distribution businesses incorporated into a separate company - Kotak Securities. Investment Banking division incorporated into a separate company - Kotak Mahindra Capital Company |
| 1996 | The Auto Finance Business is hived off into a separate company -Kotak Mahindra Prime Limited (formerly known as Kotak Mahindra Primus Limited). Kotak Mahindra takes a significant stake in Ford Credit Kotak Mahindra Limited, for financing Ford vehicles. The launch of Matrix Information Services Limited marks the Group's entry into information distribution. |
| 1998 | Enters the mutual fund market with the launch of Kotak Mahindra Asset Management Company. |
| 2000 | Kotak Mahindra ties up with Old Mutual plc. for the Life Insurance business. |
| 2000 | Kotak Securities launches its on-line broking site (now www.kotaksecurities.com). Commencement of private equity activity through setting up of Kotak Mahindra Venture Capital Fund. |
| 2001 | Matrix sold to Friday Corporation |
| 2001 | Launches Insurance Services |
| 2003 | Kotak Mahindra Finance Ltd. converts to a commercial bank - the first Indian company to do so. |
| 2004 | Launches India Growth Fund, a private equity fund. |
| 2005 | Kotak Group realigns joint venture in Ford Credit; Buys Kotak Mahindra Prime (formerly known as Kotak Mahindra Primus Limited) and sells Ford credit Mahindra. |
| 2005 | Launches a real estate fund |
| 2006 | Bought the 25% stake held by Goldman Sachs in Kotak Mahindra Capital Company and Securities |
| 2008 | Launched a Pension Fund under the New Pension System |
| 2009 | Kotak Mahindra Bank Ltd. Opened a representative office in Dubai
Entered Ahmedabad Commodity Exchange as anchor investor |
| 2010 | Ahmedabad Derivatives and Commodities Exchange, a Kotak anchored enterprise, became operational as a national commodity exchange. |
| 2011 | Kotak Mahindra Bank Ltd entered into a Business Cooperation arrangement with CIMB Group Sdn Bhd, Malaysia. |
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“Let it suffice that in the light of these two facts, namely, that the mind is One, and that nature is its correlative, history is to be read and written.”
—Ralph Waldo Emerson (1803–1882)