Best for HNW in Asia 2021
Kotak Mahindra Bank
New Delhi grew to understand the importance of the wealth held by non-resident Indians, or NRIs, last year and what happens when their multi-country banking needs are not met.
The last 18 months have been particularly complicated for India’s high net worth citizens. On the one hand, you have NRIs unexpectedly stuck in India because of Covid-19 lockdowns and travel restrictions, struggling to manage their accounts across borders and the resulting tax implications. On the other hand, HNW Indians abroad were struggling to juggle business and family needs.
At every turn, Kotak Mahindra Bank was there to help India’s wealthiest make sense of a uniquely chaotic period, catering to their cross-border needs, whether within Asia or outside.
When readers think of best-in-Asia private banks, this Mumbai-based operation may not spring to mind first. But few can compete when it comes to Kotak’s offerings in personal finance, investment banking, life insurance and, of course, wealth management for a sprawling diaspora in an economy that is gaining on China in terms of gross domestic product.