Kotak Mahindra Bank MD & CEO Ashok Vaswani announced he will not seek reappointment when his term ends on December 31, 2026, citing personal reasons. The bank's board has initiated the succession process. Vaswani joined Kotak on January 1, 2024, succeeding founder Uday Kotak (who stepped down September 1, 2023). Internal candidates include Paritosh Kashyap (wholesale banking) and Anup Saha (consumer banking). The bank's consolidated profit after tax for FY26 was ₹19,103 crore (down from ₹22,126 crore in FY25).
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Kotak Mahindra Bank MD & CEO Ashok Vaswani Will Not Seek Reappointment; Steps Down December 31, 2026
Key Points
- Kotak Mahindra Bank MD & CEO Ashok Vaswani announced he will not seek reappointment when his term ends on December 31, 2026, citing personal reasons
- The bank's board has initiated the succession process
- Vaswani joined Kotak on January 1, 2024, succeeding founder Uday Kotak (who stepped down September 1, 2023)
- Internal candidates include Paritosh Kashyap (wholesale banking) and Anup Saha (consumer banking)
- The bank's consolidated profit after tax for FY26 was ₹19,103 crore (down from ₹22,126 crore in FY25)
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• Kotak Mahindra Bank CEO Ashok Vaswani: stepping down Dec 31, 2026; personal reasons • Vaswani joined: January 1, 2024 (succeeding founder Uday Kotak) • Internal successors: Paritosh Kashyap (wholesale banking) or Anup Saha (consumer banking) • Kotak Mahindra Bank: India's 3rd largest private bank; market cap ~₹4.06 lakh crore; HQ Mumbai
