Kotak Mahindra Bank has announced plans to significantly expand its SME business in Kolkata, recognizing the city as a critical hub for trade and commerce in Northeast India. Shekhar Bhandari, President-SME, emphasized Kolkata’s pivotal role in the bank’s strategic growth plans for the East region. The city’s diverse sectors, including iron and steel, biotechnology, coal, leather, jute products, tea, IT, and gems and jewelry, make it a prime focus for the bank’s expansion efforts.
The East region represents a vital market with significant growth potential for Kotak Mahindra Bank. The bank is committed to expanding its footprint over the next few years by investing in local talent and opening new branches to meet the growing needs of businesses and entrepreneurs. “SMEs are integral to our growth strategy, and Kolkata and the East are central to our vision for SME growth,” said Bhandari. “We see immense potential in the diverse industries here and are committed to fostering sustainable growth.”
A key part of Kotak Mahindra Bank’s strategy involves the Kolkata market. Known for its bustling trade activities and dynamic economic environment, Kolkata offers vast opportunities for SME development. The bank plans to leverage local insights and opportunities, underscoring its commitment to driving regional economic development. Kotak Mahindra Bank has also identified other key locations in the East, such as Ranchi, Jamshedpur, Bhubaneshwar, and Cuttack, to bolster the SME sector and support the broader goal of achieving a $5 trillion economy in India.
