[9] The company was initially engaged in bill discounting, along with lease and hire purchase activities.

[10] In the early 1990s, the company started offering car financing and investment banking services and expanded its operations overseas.

[19] In 2014, Kotak Mahindra Bank acquired a 15% stake in Multi Commodity Exchange (MCX) from Financial Technologies Group for ₹459 crore (US$75.21 million) to become the company's largest shareholder.

With the merger completed in 2015, Kotak Mahindra Bank had almost 40,000 employees, and the number of branches reached 1,261.

[29] In April 2017, Kotak Mahindra Bank acquired Old Mutual's 26% stake in Kotak Mahindra Old Mutual Life Insurance for ₹1,292 crore (US$198.4 million), making the life insurance company its wholly-owned subsidiary.

[34] In 2023, Kotak Mahindra Bank acquired microfinancier Sonata Finance for ₹537 crore (US$62 million).

[38][39] In 2020, Kotak pledged to donate ₹50 crore to the PM CARES Fund to fight against the COVID-19 pandemic in India.