Uday Kotak: The money master

Asia's Tech News Daily

Uday Kotak: The money master

BECAUSE he helped recove r over 60 per cent of IL&FS’s outstanding debt of around Rs 94,000 crore by October this year after the Centre called upon him to revive the troubled non-ban king financial firm as its chairman in 2018

BECAUSE Kotak Mahindra is India’s fourth-largest private bank with Rs 2.23 lakh crore in advances as on March 31, 2021; Rs 6,965 crore net profit, Rs 2.8 lakh crore deposits in the year and Rs 65,472 crore capital reserves

BECAUSE he is building the group’s muscle through acquisitions such as taking over Volkswagen Finance’s vehicle financing portfolio in September, Kotak Mahindra Bank acquiring a 9.99 per cent stake in investor and issuer servicing platform KFin Technologies, and a similar stake in Tata firm Ferbine

BECAUSE the digital disruption in financial services saw his bank’s mobile app transaction vol umes grow 128 per cent and value up 51 per cent in FY21 BECAUSE he was the world’s richest banker with a net worth of $16 billion (Rs 1.2 lakh crore) in the Bloomberg Billionaires Index in December 2020

BECAUSE with the RBI giving him a three-year extension as CEO last December, he’d have spent 20 years at the bank’s helm when his tenure expires in 2023

UNWIND TIME Loved Netflix series Medici about the medieval Florence banker. The Crown is his other favourite

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Uday Kotak: The money master
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