With a huge
array of banking products in the market, the competition is ripe at the moment. Kotak Group is synonymous, not only with banking products, but a slew of other services in insurance, mutual funds, investment banking, equities etc. Kotak Mahindra Group’s flagship company, Kotak Mahindra Bank Ltd. boasts of 149 full-fledged branches, as of December 31, 2007. In a free-wheeling conversation with 4Ps B&M, K. V. S. Manian, Head, Retail Liabilities & Branch Banking, Kotak Mahindra Bank, reveals the bank’s future plans.
All banks are focusing on the retail segment. How do you plan to stay ahead in the race?
Competition in a free market is a reality. We plan to distinguish ourselves through a differentiated customer proposition, which is based on three fundamental pillars. Quality of service & superior convenience through well trained people & state-of-the-art technology; one Kotak brand experience through a well integrated group platform of processes & products, offering seamless experience to customers and superior execution of the intended strategy for customer acquisition, reach, brand creation and cutting edge products in line with the target customer needs.
Who is your biggest competitor in the market?
This is a very large & fragmented market and you can’t name one particular bank as competition. For different products and services we benchmark ourselves with the best in that aspect of the business. Also competition varies depending on product, customer segment, and/or geography.
What market share are you commanding at present?
Our share of deposits will be close to 0.8% of the banking system. In most retail asset products, we will be among the top 5-6 players. In distribution of wealth and insurance products also we are among the top 5-6 players in the market.
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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
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