Analyst Gurmeet Chadha commented on Kotak Mahindra Bank's appointment of Mr. Saha (Anoop) after Mr. Vaswani's resignation, saying it removes an overhang but growth concerns remain

Thu 1 Oct 2026

Pre-covid loan growth

20% plus

Last quarter NII/PPOP growth

9 to 10%

Last quarter loan growth

15%

Heard on Live TV News Channel between 08:47:37 - 08:50:37 IST.

• Said the appointment clears the deck as the street was expecting Anoop to take over once Mr. Vaswani decided not to extend his term.
• Noted Anoop is already a whole-time director with experience in lending and digital transformation at Bajaj Finance and ICICI Bank.
• Said this removes an overhang and could cause a temporary positive reaction in the stock.
• Flagged that Kotak's loan growth and NII growth have slowed versus pre-covid industry-leading growth of 20%+; last quarter profit was helped by lower provisioning while NII/PPOP growth was single digit at 9-10% and loan growth 15%.
• Said the key question now is whether operating performance picks up to justify the premium price-to-book multiple the stock used to command.

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