Archive · 1 Oct 2026
Kotak Mahindra Bank Shares Rise After Anup Saha CEO Announcement
Kotak Mahindra Bank's shares went up by 4% after the bank announced Anup Saha as its proposed new CEO.
The current CEO is Ashok Vaswani.
Saha joined Kotak Mahindra Bank in January 2026.
He currently helps lead the bank's retail banking, data analytics and marketing work.
The bank's board must still complete formal steps and ask members to approve the appointment.
Before Kotak, Saha led Bajaj Finance Limited.
He also worked for many years at ICICI Bank Limited.
Some brokerages had already viewed his hiring as a sign that the bank was preparing for a leadership change.
Kotak Mahindra Bank shares rose 4% after Anup Saha was announced as the prospective next Managing Director and CEO.
The bank's board will take further steps to formalize the appointment and seek members' approval.
Saha currently serves as Whole-time Director and Executive Director at Kotak Mahindra Bank.
He joined the bank in January 2026 and has overseen retail banking, data analytics and marketing since March 2026.
Before joining Kotak, Saha was Managing Director and CEO of Bajaj Finance Limited and held leadership roles at ICICI Bank Limited.
- Who
- Anup Saha was announced as the prospective successor to current Managing Director and CEO Ashok Vaswani.
- What
- Kotak Mahindra Bank announced that its board will begin steps to formalize Saha's appointment as Managing Director and CEO.
- When
- The announcement followed Saha's joining the bank in January 2026 and his assuming oversight of additional functions in March 2026.
- Where
- The announcement was made in a filing with Indian stock exchanges.
- Why
- Brokerages had interpreted Saha's hiring and other senior appointments as evidence of succession planning, and the announcement was followed by a 4% rise in the bank's shares.
- Share-price movement
- Kotak Mahindra Bank shares rose 4% after the CEO announcement.
- Prospective CEO
- Anup Saha
- Current CEO
- Ashok Vaswani
- Saha's current role
- Whole-time Director and Executive Director at Kotak Mahindra Bank
- Kotak joining date
- January 2026
- Board process
- The board will formalize the appointment and seek members' approval.
- Professional experience
- More than 32 years overall, including 25 years in financial services.