Kotak Bank to launch credit cards

Kotak Mahindra Bank is planning to enter the credit cards business to enhance its portfolio of services, vice-chairman and managing director Uday S Kotak said today.

Kotak, who inaugurated the bank's second branch in the city, said the credit cards business was next in line for the bank, and the products would be launched within 18 months.

He added that the bank would increase the number of branches to 100 by the end of 2007-08 with an outlay of Rs 125-150 crore.