Press release for ET Magazine 9 April 2017
Delhi, 9 April 2017
Kotak Mahindra Bank and HDFC Bank are almost like banking twins, born a decade apart. Both started with new licences. Both built the basic infrastructure of a banking network, branches, ATMs and a digital presence and both banks have refrained from ever putting all their eggs in the project financing, infrastructure business. Both have grown through acquisitions and both banks are led by strong personalities, Uday Kotak and Aditya Puri.
There the similarities end. Kotak is an entrepreneur from a business family, while Puri is a career-banker. Kotak Bank has been clearly targeting the ‘mass-affluent’ customer, even offering higher interest rates for savings accounts, and making sure profits are paramount.HDFC Bank has on the other hand focused on growth, and has moved into the semi-urban and rural areas to cover the rural landscape.
In its next issue on 9 April 2017, The Economic Times Magazine, takes an interesting look at the race between Kotak and HDFC bank to be the one on top.
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ET Magazine is India’s largest business magazine that provides an evolved read to ET’s audience by bringing together the best of newspaper and magazine values in an easy-to-read and easier-to-digest format.
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ET Magazine (Bennett Coleman Company Limited (ET))
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