Kotak Mahindra Bank Shares Jump Over 4% After RBI Approves Anup Kumar Saha As New MD & CEO
Shares of Kotak Mahindra Bank gained more than 3% in early trading on October 1 after the private sector lender announced the appointment of Anup Kumar Saha as its new Managing Director and CEO. The stock climbed as much as 4.29% in the early trade before giving up some gains. At 11:15 am, shares were trading 2.4% higher at Rs 427 on the BSE. Saha will assume the top position for a three-year…
On October 1, Kotak Mahindra Bank's shares surged more than 3% in early trading following the private sector lender's announcement of Anup Kumar Saha as its new Managing Director and CEO. The stock initially rose as much as 4.29% but later settled at a 2.4% increase, trading at Rs 427 on the BSE.
Anup Kumar Saha will take up the top post for a three-year tenure starting January 1, 2027, replacing Ashok Vaswani. Saha joined Kotak Mahindra Bank in January 2026 and currently serves as a whole-time director, focusing on retail banking, government business, data analytics, and marketing.
Formerly, Saha had held several senior leadership roles at Bajaj Finance. Ashok Vaswani, the outgoing CEO, expressed confidence in Saha's abilities, stating that he would help the bank enhance customer relationships while pursuing growth objectives with purpose and discipline.
Kotak Mahindra Bank Chairman Uday Kotak emphasized the need for fiscal discipline, manufacturing growth, and reforms to achieve the Viksit Bharat goal by 2047 before joining Kotak Mahindra Bank.
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- Kotak Mahindra Bank Gets RBI Nod For Anup Kumar Saha As MD And CEO, Shares Rise 4.11% On Leadership Clarity freepressjournal.in
- Kotak Mahindra Bank shares rise on new CEO appointment thehindubusinessline.com
