Kotak Mahindra Bank opens branch in Kochi
James Paul
21 September 2004

Kochi: Kotak Mahindra bank opened its first full-fledged retail-banking branch in Kochi on Thursday, September 16.

"The key socio-economic indicators, including the high literacy rate and high per capita income, gave the bank the confidence to enter Kerala, Uday S Kotak, executive vice chairman and managing director, Kotak Mahindra Bank, told reporters here on Thursday.

With over 20 years of financial services expertise, Kotak Mahindra offered insurance, mutual funds, wealth management and tax planning schemes, he said adding that the group had a net worth of around Rs 1,550 crore.The bank had 45 branches across the country, he said adding their target was to add another 30 in three years time.

Besides, opening up branches, the bank was also putting up adequate number of off-site ATMs at strategic locations to allow easy access to the bank's facilities for all its customers, he said.

The bank had tied up with visa worldwide to provide a globally valid debit card, which was accepted in over 56,000 establishments across India. Customers could access their accounts free of cost at any bank's visa ATM by using free visa affiliated global debit card, he said adding customers also could get free cash delivered at their doorstep through the free home banking facility or ask for free cash / cheque pick-up from their home.

"Our focus is to provide personalised investment advice to our customers based on their individual needs", Dipak Gupta, executive director, said.

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