Kotak bank has strengthened its leadership team with the appointment of Anup Kumar Saha as whole-time Director, subject to regulatory approvals. Until such approvals are granted, Saha will serve as Whole-time Director (Designate) and join the bank's senior management team from January 12.

Leadership Transition and Background

Saha brings extensive experience from his tenure at Bajaj Finance, where he served as Managing Director for over eight years. His leadership was instrumental in transforming the company into one of India's leading and most profitable non-banking financial companies in consumer finance.

Professional Experience and Expertise

Prior to Bajaj Finance, Saha spent 14 years at ICICI Bank in senior leadership roles, gaining comprehensive expertise across multiple domains:

• Consumer and retail banking operations
• Data analytics and insights
• Digital transformation initiatives
• Strategic business development

This diverse background positions him well to drive Kotak's strategic objectives in the evolving financial services landscape.

Role and Responsibilities at Kotak

At Kotak Mahindra Bank, Saha will oversee critical business functions that align with the bank's growth strategy:

These responsibilities will reinforce the bank's leadership depth and advance customer-centric transformation, digital innovation, and data-led strategies.

Leadership Perspectives

CS Rajan, Chairman of Kotak Mahindra Bank, emphasized the strategic value of this appointment: "Saha's leadership in scaling businesses, driving digital transformation, and building customer-centric organisations will be invaluable as we continue to strengthen our position in the financial sector."

Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, highlighted the alignment with the bank's strategic direction: "Saha's extensive understanding of retail finance, data-driven growth, and innovation will help us accelerate our strategy and deliver even greater value to our customers."

Commenting on his appointment, Anup Kumar Saha expressed his commitment to the role: "I look forward to working with the leadership team to build on this strong foundation, drive innovation, deepen customer relationships, and create value for all stakeholders."

Kotak Bank announced a significant leadership appointment on January 12, 2026, as the Board of Directors approved the appointment of Mr. Anup Kumar Saha as Additional Director and Whole-time Director. The appointment marks a strategic addition to the bank's senior management team, bringing extensive financial services expertise to the organization.

Appointment Details and Structure

The Board of Directors, in their meeting held on January 12, 2026, structured Mr. Saha's appointment in two phases to ensure regulatory compliance:

Mr. Saha will also assume the position of Key Managerial Personnel once his appointment as Whole-time Director takes effect following receipt of all necessary regulatory and statutory approvals from the Reserve Bank of India and other relevant authorities.

Professional Background and Experience

Mr. Anup Kumar Saha brings over 32 years of professional experience to Kotak Mahindra Bank, with 25 years specifically focused on financial services across banking and non-banking financial institutions. His career trajectory demonstrates progressive leadership growth in the financial sector.

Bajaj Finance Limited Tenure

Mr. Saha's most recent association was with Bajaj Finance Limited from October 2017 to January 2026, where he held multiple senior positions:

Earlier Career Experience

Prior to Bajaj Finance Limited, Mr. Saha spent 14 years at ICICI Bank Limited from May 2003 to June 2017. During his tenure at ICICI Bank, he served in various senior roles leading critical business segments including:

• Retail Secured Assets
• Business Intelligence
• Retail and Rural Collections
• Credit Cards
• Retail Structured Finance

He also served as a Nominee Director of ICICI Bank on the boards of TransUnion CIBIL Limited and ICICI Home Finance Limited, demonstrating his governance and strategic oversight capabilities.

Educational Qualifications

Mr. Saha holds strong academic credentials that complement his professional experience:

• B. Tech degree in Engineering from IIT – Kharagpur
• MBA from IIM – Lucknow

His early career included positions at GE Capital (1999–2003) focusing on credit cards sales and analytics, and Bharat Heavy Electricals Limited (1991–1995) in production engineering, following experience in consumer durable sales.

Regulatory Compliance and Board Meeting Details

The bank confirmed that Mr. Saha is not debarred from holding the office of a Director pursuant to any SEBI Order or any other regulatory authority. The Board Meeting that approved this appointment commenced at 8:30 a.m. IST and concluded at 8:45 a.m. IST on January 12, 2026.

The appointment disclosure also confirmed that Mr. Saha is not related to any existing Director of the Bank, ensuring independence in his role. The bank has made this information available on its website for stakeholder access and transparency.