Net worth 2016: $ 6.3 B
Kotak started a non banking financial company in 1985 providing only bill discounting service.At that time, India’s economic growth was stagnant at 3.5% a year, according to Euromoney. Kotak’s NBFC was the first to convert into a bank.
Kotak got its banking license in 2003, when a founder needed to have at least 40% stake in the bank. Two years later, RBI introduced new guidelines where the permissible founders' stake dropped to 10%. .
Today, the bank has operations across commercial banking, mutual funds, asset reconstruction, investment banking, insurance etc.
Over the last fifteen years the bank saw an exponential growth in its profit increasing from ₹333 crore in 2003-04 to ₹9158 crore in 2017-18.