Kotak Mahindra Bank named Anup Saha as its next MD and CEO, succeeding Ashok Vaswani who stepped down after reaching retirement

Thu 1 Oct 2026

FCNR funds raised

85,000 crore rupees

Net interest margin

above 4.5 percent

Return on assets

1.9 to 2.1 percent

One-year upside target

480 to 490

Heard on Live TV News Channel between 08:14:00 - 08:17:00 IST.

• Anup Saha, current whole-time director, will become MD and CEO from January 1.
• He has over 30 years of experience across Kotak, Bajaj Finance (MD/Deputy MD, consumer finance), ICICI Bank, GE Capital and BHEL.
• Analysts called the transition smooth and peaceful compared to speculation around other bank successions like HDFC Bank.
• Analysts said Kotak must boost its CASA/low-cost savings franchise as affluent customers shift money to term deposits, raising cost of funds.
• Kotak's FCNR window raised close to 85,000 crore rupees, seen as helping the sector get low-cost funds without CRR/SLR/PSLC requirements.
• Kotak's NIM was noted as highest among private banks above 4.5%, better than ICICI Bank, though ROA at 1.9-2.1% trails ICICI Bank.
• One analyst said upside potential target of 480-490 could be seen within the next year.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.