Thursday, February 24, 2011

Kotak Mahindra announces major expansion plans

Kotak Mahindra Bank has recently announced its expansion plans. The bank plans to increase the branch count to 500 from 300 by March 2012.

The Executive Vice-Chairman and Managing Director of the bank Mr. Uday Kotak said “We aspire to be national, including wholesale banking. We also want to see how we can get bigger. Inorganic (route) is something that also interests us. That's something on our radar.”

The bank plans to target wide range of customers apart from the high-worth customers. The bank also plans to expand its network overseas and is in talks with local players in the countries in US and Europe.

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