Kotak Mahindra Bank Eyes Major Growth in Uttar Pradesh’s SME Sector
In the last 2 years, the bank has expanded its business in Uttar Pradesh and doubled its customer base and loan book for the segment
SMEs across Uttar Pradesh are now a key growth market for Kotak Mahindra Bank. The state, renowned for its vibrant economy and as a hub for many businesses and industries — Electrical Machinery and Communication Equipment, Food Processing, Paper and Wood, Textiles, Logistics, Pharmaceuticals, and Auxiliary Transport Activities — has become a focal point for Kotak Mahindra Bank’s strategic expansion efforts.
Kotak Mahindra Bank is significantly investing in developing the local talent pool and has doubled its customer base and loan book in the region for the SME segment in less than two years.
Shekhar Bhandari, President – Small and Medium Enterprises, Kotak Mahindra Bank, said, “Customer centricity is at the centre of our SME business; beyond merely providing easy access to credit, the bank has adopted an inclusive approach aimed at reducing turnaround time and deepening client relationships. In the last few months, leveraging advanced AI and ML tools to help faster decision-making, the bank has almost reduced its turnaround time by 50%.”
“SME is a strong focus area for the bank’s growth strategy,” Bhandari added. “We are confident of sustainable growth in this segment across the country, with a special focus on Uttar Pradesh in the coming years. SMEs will play a significant role in making India a $10 trillion economy, and the bank is committed to supporting their growth and growing alongside them.”
The bank is investing in the location to support its growth plans over the next few years. It currently serves the growing demand of businesses and entrepreneurs through its numerous branches across the state.
Kotak Mahindra Bank has identified Lucknow, Kanpur Nagar, Agra, Varanasi, and Bareilly as focal points within the state to leverage its local insights and opportunities for growth.;;
