Wealth of skill in managing wealth

CAPTAINSPEAK

You are almost synonymous with Kotak Mahindra Bank in Gujarat.
I am one of the oldest employees of the Kotak group in the state and that perhaps explains it. Moreover, I have handled all operations of the group "" finance, securities, insurance and now banking, in Gujarat.

It was when I was with the securities and insurance business that we grew tremendously in the state. I feel proud to be associated with a brand that has grown from a bill discounting house to a bank with the highest share in stock broking and a major presence in car finance and insurance.

Now, it is the banking division that you are handling. How is it different from the earlier experience?
Kotak Mahindra Bank does not function just like another bank. It has been modelled to become an advisor for wealth management and it is here that my experience in securities, insurance and financing comes in.

Kotak Mahindra Bank aims to be a wealth manager and income advisor for a segment of the population that has money, but needs advice on not how to just save, but how to manage wealth.

But are you not looking at smaller customers by reducing the average quarterly balance for savings accounts?
I believe all those who save can be classified into three categories. The first, with an annual income of over Rs one crore, normally have international banks as their wealth managers and those with an annual income of up to Rs five lakh have the whole range of PSU banks and other private banks to deal with.

Kotak Mahindra Bank is looking at the segment in between, those with an annual income of between Rs five lakh to Rs one crore. Although the numbers may not be as big, the value definitely is, because we are chasing value. And our aim is to convert these savers into investors, since that is our area of expertise.

What are your immediate plans for expansion of KMB in Gujarat?
Apart from the existing bank in Ahmedabad, a second branch of KMB will begin functioning by next month.

Besides, our first ATM in the state will also begin functioning within a month from now at Ahmedabad. And then, we are in the final stages of finalising locations in Vadodara, Surat and Rajkot. By the year-end, we will be present in all major cities of Gujarat.

Will the association with UTI Bank for the ATM network continue as you are setting up you own network?
Yes. The association with UTI Bank for the ATM network will continue as KMB customers get free-of-cost access to over 700 ATMs across the country.