Kotak Mahindra Bank Limited has released its Integrated Annual Report for FY 2025-26, marking its 41st Annual Report and 6th Integrated Annual Report. The Bank has convened its Forty-First Annual General Meeting (AGM) on Saturday, August 1, 2026 at 10:00 a.m. (IST) through Video Conferencing. The Bank has recommended a final dividend of ₹0.65 per equity share of ₹1/- face value for FY 2025-26, subject to shareholder approval at the AGM. The record date for dividend eligibility has been fixed as Friday, July 17, 2026, with payment on or before August 7, 2026.

Financial Performance Highlights

The Bank delivered strong standalone and consolidated results for FY 2025-26, with the consolidated balance sheet crossing ₹10 lakh crore — a significant milestone reflecting four decades of disciplined growth. The following tables summarise key standalone and consolidated financial metrics:

*FY 2024-25 standalone PAT included a one-time gain of ₹2,729.95 crore from the ZKGI divestment. On a comparable basis, FY 2025-26 PAT was 2.10% higher year-on-year.

*Includes one-time gain of ₹185.16 crore from Infina divestment. **Excludes gain of ₹3,013.46 crore from ZKGI divestment.

MD & CEO Message and Strategic Direction

Managing Director & CEO Ashok Vaswani, in his message dated July 6, 2026, highlighted that the year was shaped by navigating technology embargo challenges, elevated credit stress in unsecured retail portfolios, and senior leadership transitions. The Bank's strategy is anchored on three pillars: Focus Customer Segment Propositions, Independent Product Businesses within the Bank, and Technology, Digital & AI. Key outcomes include a combined relationship value of over ₹10 lakh crore across more than 66,000 HNI families, Kotak811 savings balances growing 32% year-on-year and contributing 12.2% of total savings account balances, and SME advances of ₹1.2 lakh crore growing 19% year-on-year. The cost-to-assets ratio improved from 3.02% in FY 2024-25 to 2.75% in FY 2025-26. Mr. Vaswani noted that the consolidated Book Value Per Share grew by 15% year-on-year and that the Bank raised close to USD 11.5 billion in Kotak Alternate Asset Managers since inception. Mr. Vaswani has decided not to seek re-appointment upon completion of his current term on December 31, 2026, and the Board has initiated the process for appointing a new Managing Director & CEO.

Strategy and Business Overview

Kotak Mahindra Bank operates as a diversified financial conglomerate across four engines: Banking and Lending, Capital Markets, Asset Management and Protection. Deposits grew 14.71% YoY, led by strong traction in low-cost granular deposits. CASA deposits increased to ₹247,723.06 crore, with current accounts growing 22.67% YoY and fixed-rate savings account balances growing 18.24% YoY. Advances grew 16.19% YoY, driven by SME lending (up 19.42% YoY to ₹122,657.49 crore), mortgages (up 18.61% YoY to ₹150,944.83 crore) and corporate banking (up 21.32% YoY to ₹116,312.23 crore).

Subsidiaries contributed 27% of consolidated profits. Kotak Mahindra Asset Management Company maintained its position as the 5th largest mutual fund in India with Average AUM of ₹5.7 lakh crore. Kotak Life Insurance reported Gross Written Premium of ₹21,441.09 crore, up 16.68% YoY, with Indian Embedded Value at ₹19,224 crore. Kotak Mahindra Capital Company executed 22 IPOs and 7 QIPs, raising ₹176,302 crore. The Value of New Business (VNB) at Kotak Life increased by 31.4% to ₹1,260 crore, with VNB margins expanding by 350 bps to 28.5%.

Key Corporate Developments

Several strategic actions were undertaken during FY 2025-26:

Dividend and TDS Compliance

The Board of Directors recommended the final dividend at its meeting on May 2, 2026. Dividend income is taxable in the hands of shareholders for FY 2026-27. The Bank will deduct TDS based on records available with the Registrar and Transfer Agent (RTA), and no requests for revision will be entertained after the specified deadline.

Resident shareholders with a valid PAN will face a 10% TDS deduction, while those without a valid PAN will be subject to a 20% deduction. No tax will be deducted if the aggregate dividend distribution during FY 2026-27 does not exceed ₹10,000. Non-resident shareholders, including Foreign Portfolio Investors (FPIs), are subject to a 20% withholding tax plus applicable surcharge and cess, with the option to avail beneficial rates under the Double Tax Avoidance Agreement (DTAA) by submitting a Tax Residency Certificate (TRC) and Form 41. Shareholders must submit necessary forms via https://ris.kfintech.com/form15 or email einward.ris@kfintech.com by the July 21 deadline.

ESG and Sustainability

Kotak Mahindra Bank reported Group CSR expenditure of ₹432 crore, reaching approximately 15 lakh CSR beneficiaries. The Bank's green asset portfolio stood at approximately ₹9,900 crore as at March 31, 2026, up 25% over the previous year. The Bank achieved Priority Sector Lending of 43.05% of Adjusted Net Bank Credit (ANBC), above the regulatory requirement of 40%. The Bank's Scope 1 and Scope 2 combined GHG emissions at the Group level stood at 112,957 tCO2e. Women constituted 27.4% of the Bank's permanent workforce in FY 2025-26. The Bank operated 21 LEED/IGBC-certified premises across eleven cities, with 29% of the workforce operating from these green buildings.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE237A01036/7b6ce659-3a18-41ac-9108-c0b2f4e6821d.pdf

Kotak Bank reported a 15.1% year-on-year increase in net advances to ₹5,12,171 crore for the quarter ended June 30, 2026. Total deposits grew by 11.7% YoY to ₹5,72,822 crore, driven by a 13.6% rise in average deposits to ₹5,58,891 crore. The bank disclosed these figures in a regulatory filing submitted to the exchanges on July 4, 2026.

The bank's Current Account Savings Account (CASA) balance at the end of the period stood at ₹2,31,019 crore, a 10.2% increase from the year-ago period. However, CASA deposits declined by 6.7% on a quarter-on-quarter basis. Average CASA for the quarter rose by 13.0% YoY to ₹2,16,898 crore.

Key Financial Metrics for Q1FY26

The following table details the bank's deposits and advances performance for the quarter ended June 30, 2026, compared to the preceding quarter and the corresponding period of the previous year.

The information provided as on June 30, 2026, is provisional and subject to limited review by the Statutory Auditors of the Bank. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.