Kotak bank has made significant strategic moves with a key leadership appointment and its first stock split in 15 years. The bank announced the appointment of Anup Kumar Saha as Whole-time Director, subject to regulatory approvals, while simultaneously proceeding with a 1:5 stock split to enhance share accessibility.

Leadership Appointment

Anup Kumar Saha joins Kotak Mahindra Bank as Whole-time Director (Designate) from January 12, 2026, and will be part of the Senior Management until regulatory approvals are received. His appointment brings extensive experience from his tenure as Managing Director at Bajaj Finance, where he spent over eight years transforming the company into one of India's leading NBFCs.

During his tenure at Bajaj Finance, Saha was instrumental in growing the customer base to 100 million while expanding the product portfolio. He also brings 14 years of experience from ICICI Bank, where he held senior leadership positions in consumer and retail banking, data analytics, and digital transformation.

Stock Split Implementation

The bank is proceeding with a 1:5 stock split, with the record date set for January 14, 2026. This subdivision will convert each existing equity share with a face value of ₹5 into five equity shares with a face value of ₹1 each.

The Board of Directors approved this subdivision on November 21, 2025, subject to shareholder and regulatory approvals, including from the Reserve Bank of India. The bank has received the necessary RBI approval and shareholder confirmation to proceed with the split.

Strategic Impact and Leadership Perspective

CS Rajan, Chairman of the Board, expressed enthusiasm about Saha's appointment, highlighting his expertise in scaling businesses, driving digital transformation, and building customer-centric organizations. The leadership views this addition as valuable for strengthening the bank's position in the financial sector.

Ashok Vaswani, MD & CEO, emphasized that Saha's appointment demonstrates Kotak's commitment to building a market-leading financial services business with experienced leadership. His understanding of retail finance, data-driven growth, and innovation is expected to accelerate the bank's strategic initiatives.

Company Profile

Kotak Mahindra Group, founded in 1985, operates as one of India's leading diversified and integrated financial services conglomerates. The Group offers comprehensive financial solutions across customer and geographic segments, including banking and lending, capital markets, asset management, and protection services.

The combination of strategic leadership strengthening and improved share accessibility through the stock split positions the bank for enhanced market participation and operational growth in the competitive financial services landscape.

Kotak bank has announced a significant leadership appointment, naming Anup Kumar Saha as Whole-time Director, subject to regulatory approvals. The appointment, effective January 12, 2026, sees Saha joining as Whole-time Director (Designate) and becoming part of the Senior Management team while awaiting final regulatory clearances.

Leadership Expertise and Background

Saha brings substantial experience from his tenure as Managing Director at Bajaj Finance, where he spent eight years in a transformative role. During his time at the non-banking financial company, he played a pivotal role in establishing Bajaj Finance as one of India's leading and most profitable NBFCs in the consumer finance sector.

Prior to his role at Bajaj Finance, Saha accumulated 14 years of experience at ICICI Bank in senior leadership positions. His expertise spans consumer and retail banking, data analytics, and digital transformation initiatives.

Role and Responsibilities at Kotak

In his new position at Kotak Mahindra Bank, Saha will oversee three critical business areas that align with the bank's strategic priorities. His responsibilities will encompass Consumer Banking operations, Marketing functions, and Data Analytics capabilities.

Leadership Perspectives

CS Rajan, Chairman of the Board at Kotak Mahindra Bank, expressed enthusiasm about the appointment, highlighting Saha's proven track record in scaling businesses and driving digital transformation. The Chairman emphasized that Saha's experience in building customer-centric organizations will be valuable for strengthening the bank's position in the financial sector.

Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, noted that the appointment demonstrates the bank's commitment to building a market-leading financial services business with experienced leadership. Vaswani highlighted Saha's understanding of retail finance, data-driven growth strategies, and innovation capabilities as key factors that will accelerate the bank's strategic objectives.

Saha expressed his excitement about joining Kotak Mahindra Group, describing it as one of India's most trusted financial services conglomerates. He emphasized his commitment to working with the leadership team to drive innovation, deepen customer relationships, and create stakeholder value.

About Kotak Mahindra Group

Established in 1985, Kotak Mahindra Group operates as one of India's leading diversified and integrated financial services conglomerates. The Group provides comprehensive financial solutions across various customer segments and geographic regions, guided by its core philosophy of "Doing it Right by the Customer."

The Group's diversified portfolio enables it to serve customers across the complete spectrum of their financial requirements, from basic banking services to sophisticated capital market solutions.