Kotak Bank hits 8-mth high as its CEO hunt ends
Kotak Mahindra Bank's shares surged nearly 4%, reaching an eight-month high, following the appointment of Anup Kumar Saha as its new Managing Director and CEO for a three-year term starting January 1, 2027. Saha was selected to replace Ashok Vaswani, who had decided not to seek reappointment when his tenure ended on December 31, 2026, citing personal reasons.
Vaswani had been in the role since January 1, 2024, taking over from Uday Kotak, a prominent figure in India's banking sector. Saha, who has over three decades of professional experience in banking and financial services, joined Kotak Mahindra Bank in January 2026. Nomura and Jefferies both highlighted Saha's qualifications, noting his expertise in consumer finance and digital execution capabilities, which align well with the bank's strategic goals.
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