Uday's new bank

Mar 27, 2003

Entrepreneurial banker, Uday Kotak has broken new ground in India and turned his financial services group into a bank.

Suave, entrepreneurial, and according to his CV a man who "also plays sitar", Uday Kotak announced this week that he has converted his financial services empire into a bank. This breaks new ground in India. Built up from a brokerage in the 1980s and partnering with local conglomerate Mahindra & Mahindra, the empire has grown rapidly in recent years to encompass investment banking, insurance, mutual funds and auto financing. Now as a bank - named Kotak Mahindra Bank - it looks likely to grow even faster, and will consider acquisitions. Here Uday Kotak explains his strategy:

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