• Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Realasset Realasset
moneycontrol.com

Home » News » Business

Jan 30, 2012, 03.52 PM | Source: PTI

Kotak Mahindra Bank thinks big, plans local acquisition

Aiming to transform itself into a bank of global scale, quality and size, Kotak Mahindra Bank is looking for acquisition opportunities within India on a top priority basis, its chief Uday Kotak has said.

Like this story, share it with millions of investors on M3

Kotak Mahindra Bank thinks big, plans local acquisition

Aiming to transform itself into a bank of global scale, quality and size, Kotak Mahindra Bank is looking for acquisition opportunities within India on a top priority basis, its chief Uday Kotak has said.

Post Your Comments

Share Cancel

Kotak Mahindra Bank thinks big, plans local acquisition
Aiming to transform itself into a bank of global scale, quality and size, Kotak Mahindra Bank is looking for acquisition opportunities within India on a top priority basis, its chief Uday Kotak has said.

"We are also seriously looking at opportunities for acquisitions within India and if (we) get something appropriate, it would be top of our priority and this is something we are currently focusing on," Kotak said.

Asked how long he wants Kotak to be known as a 'young' bank and by when it would be counted among big banks, he said: "We want to remain young forever."       

"You can be young and big at the same time. We are 25 years old, but still young. We have over 20,000 employees, we are having a market cap of Rs 36,000 crore and (are a) part of the Nifty 50 index, so we are in many ways well positioned and we see the next two years as an opportunity to reach world scale, world quality and world size," he said.

"At Kotak, our aspiration is to build a world-class bank from India, which every Indian should be proud of," he added.     

Asked about the timeframe for achieving these targets, Kotak said: "It is an ongoing journey and over the next 5-10 years, I would want to achieve this dream of making India proud."

On the perception about Kotak Mahindra Bank being a small one and no names other than ICICI Bank and HDFC Bank getting a mention during talks about large Indian private sector banks, Kotak said these perceptions would soon change.     

"We are certainly trying hard to change the perception. Our aim has always been to maintain the quality and we never wanted to achieve size at the cost of quality. But now, we are working on a quality of size," he said.

Listing out the growth potential, India has in the current economic scenario globally, he said on the sidelines of the just-concluded World Economic Forum here that the Kotak Group itself was finding enormous opportunities in the Indian financial sector.

"We will continue to invest and grow in each segment of our operations, whether it is commercial banking,  institutional equities, or any other business. Our equity research entity is ranked two in the country and we are the only Indian entity among the top ten equity research firms in India, the rest nine are foreign," he said.

Besides Kotak Mahindra Bank, Uday Kotak-led group has a presence in insurance, brokerage, asset management, auto finance, investment banking, equity research and a host of other financial services segments.      

Kotak said he is optimistic about 2012 giving India "an opportunity once again to build itself and take benefit of this opportunity, which it seems to have missed in 2011." 

Kotak Mahindra Bank has over 329 branches and 782 ATMs  across India. It posted a revenue of close to Rs 11,000 crore and profit after tax of more than Rs 1,500 crore in the last financial year.

Kotak Mahindra stock price

On February 11, 2016, Kotak Mahindra Bank closed at Rs 628.90, down Rs 38.25, or 5.73 percent. The 52-week high of the share was Rs 744.45 and the 52-week low was Rs 594.10.


The company's trailing 12-month (TTM) EPS was at Rs 10.48 per share as per the quarter ended December 2015. The stock's price-to-earnings (P/E) ratio was 60.01. The latest book value of the company is Rs 77.54 per share. At current value, the price-to-book value of the company is 8.11.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Kotak Mahindra Bank thinks big, plans local acquisition

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login