RBI’s approval of Anup Saha as the next MD & CEO sent Kotak Mahindra Bank shares higher. Shares closed at ₹415.15, up 2.2% from the previous close.
Saha, who joined the bank in January 2026 as a whole‑time director, will take the reins on 1 January 2027 for a three‑year term. The appointment follows a competitive selection process that also shortlisted Paritosh Kashyap, a current whole‑time director.
Prior to Kotak, Saha spent nine years at Bajaj Finance, rising from President of the Consumer Finance division to MD & CEO. His tenure at Bajaj was marked by a 23% lift in non‑performing asset ratios and a 15% boost in retail loan growth.
Kotak’s stock has fallen 6.5% year‑to‑date, a sharper decline than the broader banking index, which is down 2.8%. The market’s reaction to the leadership change suggests a reassessment of the bank’s strategic direction.
Analysts will review the bank’s Q1 earnings, due on 28 October, to gauge how Saha’s experience translates into profitability. Expectations are that the bank will maintain a net interest margin above 4.5% and that operating expenses will stay below 30% of revenue.
With the leadership transition complete, investors are watching for any policy shifts in retail and government banking that could influence the bank’s margin profile in the next fiscal quarter.