a news release or is otherwise written in a promotional tone . please help by either rewriting this article from a neutral point of view or by moving this article to wikinews . when appropriate blatant advertising may be marked for speedy deletion with db spam . february 2016 kotak mahindra bank type public company traded as bse 500247 nse kotakbank industry banking financial service founded 1985 as kotak mahindra finance ltd headquarters mumbai india key people uday kotak founder & executive vice chairman & md c. jayaram joint md dipak gupta joint md jaimin bhatt president & group cfo products deposit accounts loans investment services revenue 27 974.52 crore us 4.2 billion 2016 1 net income 3 431.12 crore us 510 million 2016 total assets us 15.8 billion 2015 number of employees 29 200 before merger with ing vysya 2015 website www.kotak.com kotak mahindra bank is an indian private sector banking headquartered in mumbai maharashtra india . in february 2003 reserve bank of india rbi gave the licence to kotak mahindra finance ltd. the group s flagship company to carry on banking business . 2 it offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance investment banking life insurance and wealth management . as of 30 september 2014 kotak mahindra bank has a network of 641 branches and over 1 159 atms spread across 363 locations in the country . the bank which has garnered positive reviews from its customers and clients 3 before its merger with ing vysya had around 29 000 employees . 4 in 2014 it was the fourth largest private bank in india by market capitalization . 5 contents 1 history 2 timeline 3 merger with ing vysya bank 4 references 5 external links history edit established in 1985 by uday kotak is an indian financial services conglomerate . in february 2003 kotak mahindra finance ltd. kmfl the group s flagship company received a banking licence from the reserve bank of india rbi . with this kmfl became the first non banking finance company in india to be converted into a bank kotak mahindra bank limited kmbl . in a study by brand finance banking 500 published in february 2014 by the banker magazine from the financial times stable kmbl was ranked 245th among the world s top 500 banks with brand valuation of around half a billion dollars 481 million and brand rating of aa . 6 7 timeline edit year milestone 1985 kotak mahindra finance limited commences bill discounting business 1987 kotak mahindra finance limited enters leasing and hire purchase business 1990 starts the auto finance division for financing passenger cars 1991 launches investment banking business 1992 enters the funds syndication business 1995 commenced joint venture with goldman sachs group inc. 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 . 1998 launches mutual fund through kotak mahindra asset management company kmamc . 2000 kotak securities launches online broking business now www.kotaksecurities.com 8 . 2001 launches insurance business partners old mutual from south africa to form kotak mahindra old mutual life insurance ltd. 2003 kotak mahindra finance ltd. kmfl the group s flagship company receives banking license from the reserve bank of india rbi . with this kmfl becomes the first non banking finance company to be converted into a commercial bank kotak mahindra bank ltd. 2004 enters alternate assets business with the launch of a private equity fund . 2005 kotak mahindra group realigns joint venture in ford credit ; takes 100 % ownership of kotak mahindra prime formerly known as kotak mahindra primus limited and sells its stake in ford credit mahindra to ford . 2005 launches a real estate fund 2006 buys out goldman sachs equity stake in kotak mahindra capital company and kotak securities ltd 2008 launched a pension fund under india s national pension system nps 2009 kotak mahindra bank ltd. opens a representative office in dubai kotak mahindra bank ltd. becomes anchor investor in ahmedabad commodities exchange ace 2015 ing vysya bank has merged with kotak mahindra bank with effect from 1 april 2015 . 9 merger with ing vysya bank edit in 2014 kotak bank acquired ing vysya bank for a deal valued at 15 000 crore us 2.2 billion . with the merger the total human resource count will jump to almost 40 000 heads and the count of branch reached 1261 . 10 post the merger ing group which controlled ing vysya bank will own 7 % share in kotak mahindra bank . 11 references edit kotak mahindra bank results . earningsindia . retrieved 21 july 2016 . about us . www.kotak.com . retrieved 2015 12 03 . pdf http www.kotak.com annualreport2013 14 kotak % 20ar % 202013 14.pdf . missing or empty title help parmar beena 1 april 2015 . integrating people technology are main challenges says kotak mahindra cfo . the hindu . retrieved 15 april 2015 . top 10 banking companies in india . maps of india . retrieved 5 february 2016 . top banks on a slide ; smaller peers do better brand finance study the smart investor . retrieved 3 september 2015 . the banker . the banker the banker . retrieved 3 september 2015 . kotak securities . 21 january 2011 . ing vysya bank is now kotak mahindra bank . retrieved 3 september 2015 . kotak bank acquires ing vysya for 15 000 crore . the hindu . mumbai . 20 november 2014 . retrieved 15 april 2015 . ing vysya staff seek job surety from kotak . business standard.com . businessstandard . 6 december 2014 . retrieved 15 april 2015 . external links edit official website v t e banking in india reserve bank reserve bank of india public sector banks allahabad bank andhra 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aurobindo pharma cadila healthcare cipla glenmark pharmaceuticals dr. reddy s idpl iil lupin sun pharmaceutical manufacturing and heavy industries acc ambuja apollo tyres bengal chemicals and pharmaceuticals bhushan bhel dlf gammon india havells hcc hindalco india cements jindal steel jsw mrf sail tata steel ultratech information technology hcl technologies infosys tata consultancy services tech mahindra wipro media sun group the times group living media telecommunications aircel airtel bsnl idea cellular micromax mobile mtnl reliance communications tata communications benchmark fy 2015 16 revenues of over us 1 billion retrieved from https en.wikipedia.org w index.php title kotak mahindra bank & oldid 741247352 categories banks of indiacompanies based in mumbaieconomy of mumbaibanks established in 2003cnx niftyhidden categories pages with citations lacking titlespages with citations having bare urlsarticles with a promotional tone from february 2016all articles with a promotional 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