Kotak Mahindra Bank Shares Rise Over 3% After Anup Kumar Saha Named New MD & CEO

5paisa Capital Ltd - 0 min read

Last Updated: 1st October 2026 - 11:06 am

Kotak Mahindra Bank shares gained more than 3% in early trade on Thursday, October 1, after the private sector lender named Anup Kumar Saha as its new Managing Director and Chief Executive Officer. 

The stock rose as much as 3.17% in opening trade. It was later trading 3.41% higher at Rs 431.20 on the NSE at 10:18 am. 

The announcement puts a timeline on the bank’s upcoming leadership transition, with Saha set to take charge from January 1, 2027. 

Saha to Take Over From Ashok Vaswani 

Anup Kumar Saha will succeed Ashok Vaswani and serve as MD and CEO for a three-year term. 

Saha is already part of Kotak Mahindra Bank’s senior leadership. He joined the bank in January 2026 and currently serves as a whole-time director, or executive director. 

In his current position, Saha oversees the bank’s retail banking, government business, data analytics and marketing functions. 

Before joining Kotak Mahindra Bank, he held several senior leadership roles at Bajaj Finance. 

Vaswani Endorses Upcoming CEO 

Ashok Vaswani is optimistic about Saha as he prepares to hand over the mantle of leadership of the bank. 

According to Vaswani, he is sure that the Kotak Mahindra Bank will continue to build on its customer relationship and progress with a sense of discipline under the leadership of Saha. 

The announcement on the leadership came to limelight during early trade as the shares of Kotak Mahindra Bank went up by more than 3%. 

Saha is expected to take over the role of MD and CEO on January 1, 2027, which marks the commencement of his three-year tenure as the leader of the private sector bank. 

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