Uday Kotak

About Uday Kotak

Birth Day: March 15, 1959
Birth Place: Mumbai, India, India
Birth Sign: Aries
Residence: Mumbai, Maharashtra State, India
Alma mater: Sydenham College of Commerce and Economics Jamnalal Bajaj Institute of Management Studies
Occupation: Founder and chairman of Kotak Mahindra Bank
Spouse(s): Pallavi Kotak
Children: 2

Uday Kotak Net Worth

Uday Kotak was bornon March 15, 1959 in Mumbai, India, India. Spurning his family's trading business, Uday Kotak started a finance firm in 1985 then went on convert it into a bank 2003. His Kotak Mahindra Bank is now among India's top four banks in the private sector, boosted by its 2014 acquisition of ING Bank's Indian operations. In March 2017, Kotak launched 811, a digital banking app offering zero-balance accounts with the aim of doubling the bank's customers to 16 million. Kotak has been cashing out his stake in Kotak Mahindra Bank in small tranches to comply with a central bank order to reduce it to 15% by 2020.
Uday Kotak is a member of Finance

💰 Net worth: $12.4 Billion (Updated at 22 June 2018)

2009 $1.2 Billion
2010 $3 Billion
2011 $3.2 Billion
2012 $4.1 Billion
2013 $4.4 Billion
2014 $3.8 Billion
2015 $7.2 Billion
2016 $6.3 Billion
2017 $8 Billion
2018 $11.01 Billion

Famous Quotes:

Things change so fast, you can't afford to be complacent.

Biography/Timeline

1982

His talent in mathematics influenced his choice of career. He earned a bachelor's degree from Sydenham College and completed a postgraduate degree in management studies in 1982 from Jamnalal Bajaj Institute of Management Studies.

2003

In early 1980s, while India was still a closed economy and economic growth was muted, Kotak decided to start out on his own, refusing a lucrative job option from a multinational. Over the next few years, he Diversified his Business into various areas of financial services, establishing a prominent presence in bills discounting, stockbroking, investment banking, car Finance, life insurance and mutual funds. On 22 March 2003, Kotak Mahindra Finance Ltd. became the first company in India’s corporate history to receive a banking license from Reserve Bank of India.

2014

During 2014, Kotak almost doubled his wealth as shares of his Kotak Mahindra Bank hit an all-time high after he sealed a $2.4 billion deal in November 2014 for rival ING Vysya Bank, partly owned by Dutch financial services group ING.

2015

In 2015, Kotak enters the general insurance Business and is partnering Telecom magnate Sunil Mittal's Bharti Airtel to start a small payments bank.

2016

Kotak has reduced his stake in the Kotak Mahindra Bank to 40% as he is required to bring down his holding to 30% by 2016.

2018

Forbes estimated his wealth to be $10.6 billion in 2018. In 2006 he ended a 14 year partnership with Goldman Sachs by acquiring its 25% stake in two subsidiaries for $72 million.