Interview| Kotak Mahindra Bank to go aggressive on new outposts, targets 200 branches in FY25, says senior official

Kotak Mahindra Bank (KMB) is strategizing its growth amidst recent regulatory challenges, focusing on expanding its brick-and-mortar presence with plans to open 170-200 branches in fiscal year 2024-25, as outlined by Virat Diwanji, the bank’s group president and head of consumer banking. \r

Despite restrictions from the RBI affecting digital customer acquisition and credit card issuance, KMB aims to enhance productivity of its branch staff through data analytics and better lead quality. The bank will intensify efforts to bolster CASA deposits by enhancing customer service, engagement, and promoting services like SIPs and utility bill payments. \r

In terms of lending, KMB targets a mid-teens growth rate for its unsecured loans business and continues to see robust performance in mortgages and business banking, driven by infrastructural development and industrial growth across India, particularly in tier 2 and 3 cities.