MEDIA COVERAGE. Kotak Bank launches international banking unit in GIFT City

Transcription

1 MEDIA COVERAGE Kotak Bank launches international banking unit in GIFT City May 3, 2016

2 Print Coverage

3 PUBLICATION NAME : The Economic Times EDITION : Ahmedabad DATE : PAGE : 03

4 PUBLICATION NAME : The Hindu Business Line EDITION : All Editions DATE : PAGE : 10

5 PUBLICATION NAME : The Economic Times EDITION : Vadodara DATE : PAGE : 03

6 PUBLICATION NAME : The Economic Times EDITION : Lucknow DATE : PAGE : 01

7 PUBLICATION NAME : The Financial Express EDITION : All Editions DATE : PAGE : 10

8 PUBLICATION NAME : The Times of India EDITION : Ahmedabad DATE : PAGE : 15

9 PUBLICATION NAME : The Times of India EDITION : Vadodara DATE : PAGE : 15

10 PUBLICATION NAME : DNA EDITION : Ahmedabad DATE : PAGE : 03

11 PUBLICATION NAME : The Economic Times (Gujarati) EDITION : Ahmedabad DATE : PAGE : 02

12 PUBLICATION NAME : The Economic Times (Gujarati) EDITION : Vadodara DATE : PAGE : 02

13 PUBLICATION NAME : Rajasthan Patrika EDITION : Ahmedabad DATE : PAGE : 04

14 PUBLICATION NAME : Nav Gujarat Samay EDITION : Ahmedabad DATE : PAGE : 10

15 PUBLICATION NAME : Divya Gujarati EDITION : Ahmedabad DATE : PAGE : 03

16 PUBLICATION NAME : Youngleader EDITION : Ahmedabad DATE : PAGE : 12

17 PUBLICATION NAME : Standard Herald EDITION : Ahmedabad DATE : PAGE : 11

18 PUBLICATION NAME : Prabhat EDITION : Ahmedabad DATE : PAGE : 03

19 PUBLICATION NAME : Marward Mitra EDITION : Ahmedabad DATE : PAGE : 04

20 PUBLICATION NAME : Mahanagar Metro EDITION : Ahmedabad DATE : PAGE : 04

21 PUBLICATION NAME : Lok Mitra EDITION : Ahmedabad DATE : PAGE : 04

22 PUBLICATION NAME : Karnavati Express EDITION : Ahmedabad DATE : PAGE : 03

23 PUBLICATION NAME : Jan Hitaishi EDITION : Ahmedabad DATE : PAGE : 04

24 PUBLICATION NAME : Herald Youngleader EDITION : Ahmedabad DATE : PAGE : 11

25 PUBLICATION NAME : Gujarat Shatabdi EDITION : Ahmedabad DATE : PAGE : 03

26 PUBLICATION NAME : Alpviram EDITION : Ahmedabad DATE : PAGE : 03

27 Online Coverage

28 Online Coverage of Kotak Bank launches international banking unit in GIFT City

29 The Economic Times Kotak Bank opens international unit in Gujarat's GIFT City By PTI 3 May, 2016, 09.26PM IST AHMEDABAD: Kotak Mahindra BankBSE 0.56 % (KMB) today announced opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. KMB has joined a clutch of peers who have opened IBUs at the International Financial Services Centre (IFSC) of GIFT City. "This is our first international branch at GIFT City. We have set aside USD 20 million to start our international banking unit from GIFT City," said K V S Manian, Kotak Bank President (Corporate, Institutional and investment Banking). "In absence of an international branch, we were not able to cater to our customers overseas, but our GIFT City branch will. change things for us," Manian said. Gandhinagar-based GIFT City, India's first and only IFSC, has been developed and designed to meet the growing demand of Indian corporates for financial funding and services in overseas markets. has become increasingly attractive because of liquidity. As per RBI data, India Inc raised over USD 1.52 billion from overseas markets in March 2016," a statement by the bank said. "What this branch will do is it will allow us to make over balance sheet in dollars. We can borrow in dollars and we can lend in dollars. Important thing is we will be regulated by one regulator only as our international branch will operate from India," Manian said. Through the IBU, the fourth largest private lender will be able to offer foreign currency loans and deposits to corporates. It will also offer external commercial borrowings, buyers' credit for imports and factoring/forfaiting of export receivable for Indian corporates in international markets He said KMB is looking at building a balance sheet of about half a billion dollars in a year through the IBU. "The major tax incentives announced in the last Union Budget have made the IFSC at GIFT a globally competitive player and many BFSI players are swarming to this new global financial hub," GIFT Company Managing Director and Chief Executive Ajay Pandey said.

30 Live mint May , 10:10 AM IST Mumbai Kotak Mahindra Bank launches International Banking Unit in GIFT City Accord Fintech Kotak Mahindra Bank (KMB) has launched its International Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City), District Gandhinagar. The merger of ING Vysya Bank with KMB on April 1, 2015, significantly increased KMB s network and assets in India, thereby cementing its position as India s fourth largest private sector bank. Continuing with this growth trajectory, the launch of the IBU enhances KMB s abilities to now offer foreign currency loans and deposits to corporates. Kotak Mahindra Bank offers a wide range of banking products and financial services for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal finance, investment banking, life insurance, and wealth management.

31 Business-Standard Kotak Mahindra Bank aims to draw $1 bn balance sheet from its international branch The bank opens its first global banking unit in GIFT at Gujarat Kotak Mahindra Bank (KMB) has launched its first international banking unit at Gujarat International FinanceTec-City (GIFT city) to provide financial funding and services to Indian corporate in overseas markets. The bank aims to draw $1 billion balance sheet in next two to three years. "As it is the need of the hour, we have decided to open our first international branch. GIFT city is the best option we have to launch as it will help us to built $1 billion balance sheet in next two to three years," said KVS Manian, president - corporate, institutional and investment banking at KMB. Currently the bank has one representative office in Dubai. According to KMB, Indian companies now expanded across the globe which increased the need of financial services and products. Manian said, "Indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets. Our international branch in GIFT will cater to this growing demand." The bank initially will offer a host of products and services including external commercial borrowings (ECB) and will gradually increase the other services to their clients from GIFT city. Indian corporates registered abroad including wholly owned subsidiaries (WOS) and joint ventures (JV) can also avail of term loans and working capital loans from KMB. It will also accept deposits from overseas corporate bodies. KMB believes that banker have to follow our customers' requirements. If we do not do this, clients will move to other banks. Rajeev Mohan, senior executive vice president, balance sheet management unit, treasury at KMB said, "Until now, banks who aspired service clients for their foreign capital requirement had to set up branches abroad. Setting up branch in GIFT city will help banks to meet these requirements by undertaking offshore banking operations from India."

32 The Hindu Business line Kotak Mahindra Bank opens IFSC banking unit at GIFT City AHMEDABAD, MAY 3: Kotak Mahindra Bank Ltd, on Tuesday, became the fourth bank to open its IFSC Banking Unit (IBU) at India s first and only International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT) City. The private sector banking and financial major offers a range of financial services, including transaction banking. It also operates lending verticals, manages IPOs, and provides working capital loans. At IBU, the bank expects a balance sheet of $one billion in the next three years. With over $250 million worth of business transactions done at IFSC in the past six months, GIFT is attracting interest from the BFSI sector in India, especially from banks, insurance companies and other financial services players who want to tap the global markets. IBU allows an Indian bank to deliver a complete range of products to its clients with foreign currency funding requirements. It can offer products such as external commercial borrowings (ECBs) to its customers, an area where it had limited capabilities hitherto. IBU will also be able to meet the funding requirements of overseas entities which may be joint ventures or subsidiaries of its domestic clients or part of the value chain of its existing customers, said Ajay Pandey, Managing Director and Group CEO of GIFT Company Ltd. GIFT is seen as a major game changer for the financial services sector in India. Major tax incentives announced in the last Union Budget have made the IFSC at GIFT a globally competitive player and more BFSI players are swarming to this new global financial hub, he added. KVS Manian, President, Corporate, Institutional and Investment Banking, Kotak Mahindra Bank, said that Indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets. Our IBU in GIFT City will cater to this growing demand. It will offer ECBs, buyers credit for imports, and factoring of export receivables for Indian corporates in international markets.''

33 The Financial Express Kotak Bank opens international unit in Gujarat s GIFT City Kotak Mahindra Bank (KMB) today announced opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. By: PTI Ahmedabad Published: May 3, :22 PM Kotak Mahindra Bank (KMB) today announced opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. KMB has joined a clutch of peers who have opened IBUs at the International Financial Services Centre (IFSC) of GIFT City. This is our first international branch at GIFT City. We have set aside USD 20 million to start our international banking unit from GIFT City, said K V S Manian, Kotak Bank President (Corporate, Institutional and investment Banking). In absence of an international branch, we were not able to cater to our customers overseas, but our GIFT City branch will change things for us, Manian said. Gandhinagar-based GIFT City, India s first and only IFSC, has been developed and designed to meet the growing demand of Indian corporates for financial funding and services in overseas markets. Until now, banks which aspired to service clients for their foreign capital requirements had to set up branches abroad. Setting up a branch in GIFT-City helps banks to meet these requirements by undertaking offshore banking operations from India, Manian said. Indian corporates are increasingly looking at financing to fund their global and domestic expansion plans. In the last few years, raising funds from overseas markets has become increasingly attractive because of liquidity. As per RBI data, India Inc raised over USD 1.52 billion from overseas markets in March 2016, a statement by the bank said. What this branch will do is it will allow us to make over balance sheet in dollars. We can borrow in dollars and we can lend in dollars. Important thing is we will be regulated by one regulator only as our international branch will operate from India, Manian said.

34 Through the IBU, the fourth largest private lender will be able to offer foreign currency loans and deposits to corporates. It will also offer external commercial borrowings, buyers credit for imports and factoring/forfaiting of export receivable for Indian corporates in international markets. He said KMB is looking at building a balance sheet of about half a billion dollars in a year through the IBU. The major tax incentives announced in the last Union Budget have made the IFSC at GIFT a globally competitive player and many BFSI players are swarming to this new global financial hub, GIFT Company Managing Director and Chief Executive Ajay Pandey said.

35 The Financial Express By: FE Bureau Ahmedabad Updated: May 4, :11 AM Kotak opens international banking unit in GIFT City In past 6 months, more than $250 m worth of business transactions were conducted at GIFT, which is attracting interest from the BFSI sector in India Kotak Mahindra Bank has become the fourth bank to open its IFSC banking unit (IBU) at the Gujarat International Finance Tec-City (GIFT). IBUs of YES Bank, Federal Bank and ICICI Bank have been operational at the GIFT for several months now. In the past six months, more than $250 million worth of business transactions were conducted at GIFT, which is attracting a lot of interest from the BFSI sector in India. An IBU allows an Indian bank to deliver a complete range of products to its clients with foreign currency funding requirements. Welcoming the opening of Kotak Mahindra Bank s IBU at GIFT IFSC, Ajay Pandey, MD & group CEO of GIFT Company Ltd, said, We are happy to have Kotak Mahindra Bank at GIFT IFSC. It s an important addition for us to have one of India s leading private sector bank set up base at India s first IFSC KVS Manian, president corporate, institutional and investment banking, Kotak Mahindra Bank, said: Indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets. Our IBU in GIFT City will cater to this growing demand. We will offer a host of products and services including External Commercial Borrowings (ECB), buyers credit for imports, and factoring / forfaiting of export receivables for Indian corporates in international markets.

36 MoneyControl May 04, 2016, AM Source: PTI Kotak Bank opens international unit in Gujarat's GIFT City "This is our first international branch at GIFT City. We have set aside USD 20 million to start our international banking unit from GIFT City," said K V S Manian, Kotak Bank President (Corporate, Institutional and investment Banking). Kotak Mahindra Bank (KMB) announced opening of its IFSC Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) to meet the requirements of offshore banking operations from India. KMB has joined a clutch of peers who have opened IBUs at the International Financial Services Centre (IFSC) of GIFT City. "This is our first international branch at GIFT City. We have set aside USD 20 million to start our international banking unit from GIFT City," said K V S Manian, Kotak Bank President (Corporate, Institutional and investment Banking). "In absence of an international branch, we were not able to cater to our customers overseas, but our GIFT City branch will change things for us," Manian said. Gandhinagar-based GIFT City, India's first and only IFSC, has been developed and designed to meet the growing demand of Indian corporates for financial funding and services in overseas markets. "Until now, banks which aspired to service clients for their foreign capital requirements had to set up branches abroad. Setting up a branch in GIFT-City helps banks to meet these requirements by undertaking offshore banking operations from India," Manian said. "Indian corporates are increasingly looking at financing to fund their global and domestic expansion plans. In the last few years, raising funds from overseas markets has become increasingly attractive because of liquidity. As per RBI data, India Inc raised over USD 1.52 billion from overseas markets in March 2016," a statement by the bank said. "What this branch will do is it will allow us to make over balance sheet in dollars. We can borrow in dollars and we can lend in dollars. Important thing is we will be regulated by one regulator only as our international branch will operate from India," Manian said. Through the IBU, the fourth largest private lender will be able to offer foreign currency loans and deposits to corporates. It will also offer external commercial borrowings, buyers' credit for imports and factoring/forfaiting of export receivable for Indian corporates in international markets. He said KMB is looking at building a balance sheet of about half a billion dollars in a year through the IBU. "The major tax incentives announced in the last Union Budget have made the IFSC at GIFT a globally competitive player and many BFSI players are swarming to this new global financial hub," GIFT Company Managing

37 Director and Chief Executive Ajay Pandey said. Kotak Mahindra stock price On May 04, 2016, at 12:41 hrs Kotak Mahindra Bank was quoting at Rs , up Rs 6.30, or 0.89 percent. The 52- week high of the share was Rs and the 52-week low was Rs The company's trailing 12-month (TTM) EPS was at Rs per share as per the quarter ended December The stock's price-to-earnings (P/E) ratio was The latest book value of the company is Rs per share. At current value, the price-to-book value of the company is 9.22.

38 India Infoline India Infoline News Service Mumbai May 03, :22 IST Continuing with this growth trajectory, the launch of the IBU enhances KMB s abilities to now offer foreign currency loans and deposits to corporates. Kotak Mahindra Bank (KMB) becomes the fourth bank to open its International Banking Unit (IBU) at International Finance Tec-City (GIFT) in Gandhinagar, Gujarat. The merger of ING Vysya Bank with KMB on April 1, 2015, significantly increased KMB s network and assets in India, thereby cementing its position as India s fourth largest private sector bank. Continuing with this growth trajectory, the launch of the IBU enhances KMB s abilities to now off foreign currency loans and deposits to corporates. KVS Manian, President Corporate, Institutional and Investment Banking, Kotak Mahindra Bank, said, Indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets. Our IBU in GIFT City will cater to this growing demand. We will offer a host of products and services including External Commercial Borrowings (ECB), buyers credit for imports, and factoring / forfaiting of export receivables for Indian corporates in international markets. We are happy to have Kotak Mahindra Bank at GIFT IFSC. It s an important addition for us to have one of India s leading private sector bank set up base at India s first IFSC, Ajay Pandey, MD & Group CEO of GIFT Company Ltd said.

39 NetIndian financial-services-centre- Kotak Bank opens IFSC Banking Unit at International Financial Services Centre at GIFT NetIndian News Network Ahmedabad, May 4, 2016 Kotak Mahindra Bank Limited has become the fourth bank to open its IFSC Banking Unit (IBU) at India s first and only International Financial Services Centre(IFSC) at Gujarat International Finance Tec-City (GIFT) in Gandhinagar. With over $ 250 million worth of business transactions done at the IFSC in the past six months, GIFT is attracting a lot of interest from the Banking, Financial services and Insurance (BFSI) sector in India, especially from banks, insurance companies and other financial services players who want to tap the global markets, a press release from GIFT said. IFSC Banking Unit (IBU) allows an Indian bank to deliver a complete range of products to its clients with foreign currency funding requirements. IBU can actively offer products such as external commercial borrowings to its customers, an area where it had limited capabilities hitherto. IBU will also be able to meet the funding requirements of overseas entities which may be joint ventures or subsidiaries of its domestic clients or part of the value chain of its existing customers Mr. Ajay Pandey, MD & Group CEO of GIFT Company Ltd. said, We are happy to have Kotak Mahindra Bank at GIFT IFSC. It s an important addition for us to have one of India s leading private sector bank set up base at India s first IFSC. Setting up of IFSC in India has been the vision of the Hon ble Prime Minister of India, as this would be a major game changer for the financial services sector in India. The major tax incentives announced in the last Union Budget have made the IFSC at GIFT a globally competitive player and many more BFSI players are swarming to this new global financial hub. Kotak Mahindra Bank is one of India's leading banking and financial services group, offering a wide range of financial services that encompass every sphere of life. It offers transaction banking, operates lending verticals, manages IPOs and provides working capital loans. Mr.K. V. S. Manian, President Corporate, Institutional and Investment Banking, Kotak Mahindra Bank, said, Indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets. Our IBU in GIFT City will cater to this growing demand. We will offer a host of products and services including External Commercial Borrowings (ECB), buyers credit for imports, and factoring / forfaiting of export receivables for Indiancorporates in international markets.

40 The release said development of completed unique infrastructure, project single window clearance and conducive regulatory environment has made GIFT City a favoured destination for various players to be a part of the city s development. GIFT City has made allotment of more than 15 million square feet of built up area (BUA) in the SEZ and Non-SEZ area for development of office towers, residential apartments and social facilities to be developed at an estimated total investment of over Rs 10,000 crore. It is estimated that GIFT would provide 5 lakh direct and an equal number of indirect jobs which would require 62 million square feet of commercial, residential and social facilities with total investment of about Rs. 78,000 crore over next 10 years.

41 Webindia123 Kotak Mahindra Bank launches International Banking Unit in GIFT City New Delhi Tuesday, May IST Kotak Mahindra Bank (KMB) today launched its International Banking Unit (IBU) in the Gujarat International Finance Tec-City (GIFT City) of Gandhinagar district. The merger of ING Vysya Bank, private sector lender with KMB on April 1, 2015, significantly increased the bank's network and assets in India, thereby cementing its position as India's fourth largest private sector bank. Continuing with this growth trajectory, the launch of the IBU enhances KMB's abilities to now offer foreign currency loans and deposits to corporates, said the company."indian corporates have expanded business operations across geographies, which in turn has led to increased requirement for financial products and services in overseas markets,'' said KVS Manian, President - Corporate, Institutional and Investment Banking, Kotak Mahindra Bank in a statement.''our IBU in GIFT City will cater to this growing demand. We will offer a host of products and services including External Commercial Borrowings (ECB), buyers' credit for imports, and factoring/forfaiting of exportreceivables for Indian corporates in international markets, he added.indian corporates, including Wholly Owned Subsidiaries (WOS) and Joint Ventures (JV), registered abroad can also avail term loans and working capital loans from the Bank.The company will also accept deposits from overseas corporate bodies.uni RN SB/AE 1601 United News Of India

42 Kotak Mahindra Bank launches International Banking Unit in GIFT City Posted at: May :03PM New Delhi, May 3 (UNI) Kotak Mahindra Bank (KMB) today launched its International Banking Unit (IBU) in the Gujarat International Finance Tec-City (GIFT City) of Gandhinagar district. The merger of ING Vysya Bank, private sector lender with KMB on April 1, 2015, significantly increased the bank's network and assets in India, thereby cementing its position as India's fourth largest private sector bank. Continuing with this growth trajectory, the launch of the IBU enhances KMB's abilities to now offer foreign currency loans and deposits