Kotak Mahindra Bank Ltd.

Private sector lender, Kotak Mahindra Bank is planning to expand its presence in east by opening more branches. In this regard, the bank has already applied for licences and the branches would be opened by the end of the current financial year. Currently, the bank has 10 branches in Kolkata and plans to open 4 more new branches in the same region.

Meanwhile, the bank has launched the revamped version of its premium banking product ‘Privy League’. The new product is categorised in three tiers - Prima, Magna and Optima and would offer special financial solutions spread across banking, financial planning and investments. 

The bank’s net profit for the quarter ended March 31, 2013 rise by 46.91% at Rs 4362.10 crore for the quarter as compared to Rs 2969.30 crore for the quarter ended March 31, 2012. Bank’s total income has increased by 28.67% at Rs 25722.30 crore for the quarter under review as compared to Rs 19990.60 crore for the corresponding quarter of the previous fiscal.