Archive · 18 Jul 2026
Kotak Mahindra Bank CEO Search Broadens Beyond Internal Candidates
Kotak Mahindra Bank's current CEO, Ashok Vaswani, is stepping down at the end of his term in December 2026.
The bank is looking for a new CEO and is considering both internal and external candidates.
Vaswani's decision to leave is due to personal reasons, such as becoming a grandfather and family commitments abroad.
The bank has recently reported a 26% increase in net profit and improvements in asset quality.
Additionally, the bank is focusing on mobilizing FCNR-B deposits and monitoring the impact of geopolitical tensions in West Asia on its business.
Kotak Mahindra Bank's CEO search is expected to extend beyond internal candidates.
Ashok Vaswani is stepping down due to personal and professional reasons.
The bank reported a 26% year-on-year rise in net profit for the April-June quarter.
Asset quality improved with the gross NPA ratio declining to 1.18% and net NPA to 0.27%.
The bank is focusing on mobilizing FCNR-B deposits and monitoring geopolitical risks in West Asia.
- Who
- Ashok Vaswani, outgoing CEO of Kotak Mahindra Bank
- What
- Kotak Mahindra Bank is broadening its CEO search beyond internal candidates
- When
- Vaswani's tenure ends on December 31, 2026
- Where
- Mumbai, India
- Why
- Vaswani is stepping down due to personal and professional reasons, including becoming a grandfather and family commitments abroad
Internal Candidates
External Candidates
CEO Search Scope
Internal Candidates
The bank has a strong internal bench of candidates for the CEO position.
External Candidates
The Nomination and Remuneration Committee is expected to consider a broader range of applicants, including external candidates.
- Current CEO
- Ashok Vaswani
- CEO Tenure End Date
- December 31, 2026
- Net Profit Increase
- 26% year-on-year
- Net Interest Income
- ₹7,259 crore
- Gross NPA Ratio
- 1.18%
- Net NPA Ratio
- 0.27%
- Average Deposits
- ₹5.67 trillion
- Customer Assets
- ₹5.71 trillion
