01 October,2026 01:42 PM IST | Mumbai | mid-day online correspondent
Kotak Mahindra Bank. Pic sourced from X.
Private sector lender Kotak Mahindra Bank on Thursday said it has appointed Anup Kumar Saha as its Managing Director (MD) and Chief Executive Officer (CEO), for three years from January 1, 2027.
Saha, who joined the bank in January 2026, is currently Whole-time Director (Executive Director) of the bank, Kotak Mahindra Bank said in a regulatory filing. He has over 32 years of professional experience, of which, 25 years has been in financial services across banking and non-banking financial institutions.
He will replace the incumbent MD and CEO Ashok Vaswani who did not seek reappointment upon completion of his term on December 31, 2026.
The bank said the Reserve Bank of India (RBI) has approved the appointment. The Board of Directors of the Kotak Mahindra Bank will initiate further steps in due course, to formalise the appointment and also seek members' approval for the same, it said.
C S Rajan Chairman of the Board, Kotak Mahindra Bank, said, "We welcome the Reserve Bank of India's
approval. Anup brings with him extensive experience across banking and financial services and has already
been actively engaged with the bank's businesses in his current role. As the Bank continues to build on its
strong foundations we look forward to Anup's leadership in strengthening the franchise and in pursuing
sustainable growth."
According to Vaswani, Saha is a seasoned financial services leader with deep experience across businesses, customer segments and operating functions, who has demonstrated a clear understanding of the
opportunities ahead.
"I am confident that Anup will build on Kotak's strong foundations, deepen its customer relationships and lead the Bank forward with purpose and discipline," he said.
Since March 2026 has overseen the retail bank, data analytics and marketing function at Kotak Mahindra Bank. Prior to joining the bank in January this year, he was associated with Bajaj Finance as the Managing Director & CEO.
He also worked with ICICI Bank for 14 years in senior roles, leading retail secured assets, business intelligence, retail and rural collections, credit cards and retail structured finance. He also served as a Nominee Director of ICICI Bank on the boards of TransUnion CIBIL and ICICI Home Finance.
On his appointment as Kotak Mahindra Bank MD & CEO, he said, "Kotak has a strong franchise, a trusted brand and talented teams across the organisation. I look forward to working with my colleagues to deepen customer relationships, tirelessly execute and build sustainable value for shareholders and all our stakeholders. We will remain firmly focused on doing the right thing and getting it right by the customer."
The shares of Kotak Mahindra Bank was trading 2.35 per cent higher at Rs 419.95 a piece on the BSE.
