We need a holistic portfolio wallet share of a client to make money in the corporate banking business, Manian said.
The CEO was answering a query about the recent exit of KVS Manian, the bank's former joint managing director.
The lender's stock declined 2.95 per cent to settle at Rs 1,575.80 on the BSE. During the day, it tanked 4.38 per cent to hit a 52-week low of Rs 1,552.55
Earlier, some media reports said that KVS Manian, who recently resigned as the Joint MD and from the Kotak Mahindra Bank's Board, may join Federal Bank as its MD & CEO
'...please note that Mr. Krishnan Venkat Subramanian, ceases to be the Whole-time Director designated Joint Managing Director, with immediate effect,' Kotak said in a regulatory filing.
In a freewheeling discussion with CNBC-TV18, Aditya Narain, Managing Director at Citi; Jairam Sridharan, Chief Financial Officer, Axis Bank and KVS Manian, President-Corporate, Institutional and Investment Banking, Kotak Mahindra Bank say they‘re bullish on the banking sector and share their views on the issue non-performing loans.
The Union Cabinet on Thursday gave its approval to a scheme that would allow power distribution companies (discoms) in select states to convert their debt into state bonds, as well as roll out a host of steps to improve efficiency at power plants.
Private sector Kotak Mahindra Bank on Friday inked a pact with ING Bank for exploring opportunities arising from cross-border business, investments and trade flows across various geographies, including Europe.
the bank has more than doubled its savings account base over the last 18 months, ever since the Reserve Bank deregulated interest rates on the product helping it tap into the market with an aggressive offering.