Kotak Mahindra Bank formally launches its first international Representative Office in Dubai

Published November 26th, 2009 - 02:59 GMT
Kotak Mahindra Bank, one of India’s leading private sector banks, today formally launched its Representative Office in Dubai, illustrating the Bank’s commitment to expanding its operations in the Middle East region. The move signifies the strength of both the Indian and UAE economies, and highlights the thirst in the region for access to Indian investment opportunities. Established in 1985, the group has long been one of the most reputed financial organizations in India.
On this occasion Uday Kotak, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank Ltd., said “India has long been an attractive market, even more so during the recent global turmoil, and we are delighted that investors based in the Middle East can now access information on various investment opportunities available in India through our Representative Office.”  The guest of honor, The Consul-General of India, Mr. Venu Rajamony, graced the occasion and met with key representatives from Kotak Mahindra Bank. 
The Kotak Mahindra Group is one of India’s leading financial conglomerates offering complete financial solutions that encompass every sphere of life. From commercial banking and stock broking, to mutual funds, life insurance and investment banking, the group caters to the financial needs of individuals and corporates. The group has a distribution network of branches, franchisees, representative offices and satellite offices across India, New York, London, San Francisco, Dubai, Mauritius, Bahrain and Singapore. The group currently services around 6.5 million customer accounts.
The group has had a presence in the UAE since 1995, and was one of the first financial services firms to enter the UAE market. With the opening of Kotak Mahindra Bank’s Representative Office in Dubai,   clients will benefit from a wide range of products and services that the group has on offer. Kotak Mahindra Group offers dynamic and innovative banking and financial solutions to cater to the varied needs of investors.
Deliberating on the opportunities Uday Kotak added; “Today India offers one of the best investment opportunities anywhere in the world. The country has significant domestic demand, a stable government with a sustainable economic plan and a demographic split that can support rapid growth. Global investors are recognizing the plethora of opportunities the country has to offer and the representative office in Dubai will serve as a vital link between Middle East investors and high yield opportunities in India.”
The group also has plans to set up an additional financial services arm in the near future in the UAE region. Kotak Mahindra Financial Services Limited, a 100% subsidiary of Kotak Securities, has received an in-principle approval to set up an office in the Dubai International Financial Centre (DIFC). 

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