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.

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."