Ashok Vaswani, Managing Director & CEO of Kotak Mahindra Bank , will not seek re-appointment upon the completion of his current term on December 31, 2026, due to personal reasons. The decision marks a significant leadership transition for the bank as it prepares to identify a successor to lead its operations.

The Board of Directors of Kotak Mahindra Bank met on June 27, 2026, and respected Vaswani's decision to step down. Consequently, the Board has initiated the formal process to appoint a new Managing Director & CEO. The bank stated that this succession process will be completed within the applicable regulatory timelines.

The following table outlines the key details regarding the leadership transition:

Vaswani has served as the Managing Director & CEO of the bank, steering its operations through a dynamic financial landscape. His tenure concludes at the end of 2026, following which the bank expects to have a new chief in place to ensure continuity in leadership and strategy.

The bank has assured stakeholders that the appointment of a new Managing Director & CEO will adhere to all regulatory requirements. Until a successor is appointed, the bank will continue to operate under its existing governance framework, ensuring stability during the transition period.

Kotak Mahindra Bank has remitted an interest payment of ₹143.07 crore to eligible bondholders for its 7.55% Senior Unsecured Rated Listed Redeemable Long Term Bonds. The payment was made on June 23, 2026, aligning with the scheduled due date, as per a regulatory filing.

The interest pertains to Non-Convertible Debentures (NCDs) issued with a face value of ₹1 lakh each. The bank disclosed the transaction details in a submission to the exchanges pursuant to Regulation 57 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Payment Details

The bank confirmed that the total interest outflow matched the due amount exactly, with no delays reported. The relevant data for the payment is summarized below:

The filing noted that the reason for non-payment or delay was Not Applicable. The previous interest payment for this instrument was made on June 23, 2025. The disclosure has been hosted on the bank's official investor relations section in compliance with the Listing Regulations. Avan Doomasia, Company Secretary, signed the communication confirming the transaction.