New Delhi: Only the fittest will survive the difficult financial sector landscape and the "consolidating" environment presents Kotak Mahindra Bank (KMB) growth opportunities, its head Uday Kotak said on Wednesday.
In a New Year message to employees, Kotak urged everyone to be on the toes in the current environment where Charles Darwin's 'Survival of the Fittest' is most applicable and also gave examples of sectors like telecom, airlines, real estate and finance, where there have been troubles.
"It is a great opportunity for Kotak to grow in an environment which is consolidating,” he said. The well-capitalised private sector lender's name has constantly featured in speculation as the entity looking out for acquisitions.
Possibly taking cue from the same, heads of its peers SBI and Axis Bank last month publicly said that KMB was the best suited to acquire troubled private sector lender Yes Bank. Both KMB and Yes Bank denied any such deal.
Kotak, the bank's managing director and chief executive, also has to decrease his stake in the bank from the present levels of over 30%.
