As part of its retail expansion, Kotak Mahindra Bank plans to enter the credit cards business by March 2008.
"We plan to introduce silver, gold and platinum credit cards. We will target high networth individuals," said K V S Manian, group head of retail liabilities & branch banking, Kotak Mahindra Bank.
The bank intends to set up this credit card business on its own rather than though tie-ups with other entities.
Branch expansion is also on the cards. Currently, the bank has 134 branches across 92 locations. "By May 2008 we plan to have more than 200 branches," Manian said. Besides, the bank will also set up 75 additional ATMs by February 2008, taking that tally to 150.
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