Kotak Bank , one of India's leading private sector banks, has disclosed the compensation details for its new Managing Director and CEO, Ashok Vaswani, for the fiscal year 2025. The revelation comes as the bank reports strong financial performance for the year.

CEO Compensation Breakdown

Ashok Vaswani, who took the helm as the new MD and CEO of Kotak Mahindra Bank, received a total remuneration package of ₹12.95 crore for FY25. Notably, a significant portion of his compensation is tied to the bank's performance:

• Stock Appreciation Rights (SARs): Forming 44% of the total package
• Other Components: Including salary, allowances, and other benefits

This structure aligns the CEO's interests with those of the shareholders, potentially incentivizing strong performance and value creation.

Executive Compensation

In addition to the CEO's package, the bank also disclosed the remuneration for other key executives:

• Shanti Ekambaram, Deputy Managing Director: Earned ₹6.62 crore in FY25

Financial Performance

Kotak Mahindra Bank demonstrated robust financial growth in FY25:

This strong performance underscores the bank's resilience and effective management strategies in a competitive banking landscape.

Upcoming Financial Results

As per the recent LODR (Listing Obligations and Disclosure Requirements) filing, Kotak Mahindra Bank has scheduled an Earnings Conference Call to discuss its Q1 FY26 results:

• Date: Saturday, July 26, 2025
• Time: 5:00 p.m. (IST)
• Purpose: To discuss Consolidated and Standalone Unaudited Financial Results for the quarter ended June 30, 2025

The bank will make the investor presentation, audio recording, and transcript of the call available on its website, ensuring transparency and accessibility for all stakeholders.

Recent Corporate Actions

In a separate LODR filing, the bank also reported the allotment of 69,617 equity shares under its Employee Stock Option (ESOP) schemes on July 11, 2025. This allotment was made across various series and tranches of the Kotak Mahindra Equity Option Scheme 2015 and 2023, reflecting the bank's ongoing commitment to employee ownership and alignment of interests.

As Kotak Mahindra Bank continues to navigate the dynamic banking sector under new leadership, investors and stakeholders will be keenly watching how these executive compensation structures and corporate actions translate into long-term value creation and sustained financial performance.

Kotak Bank has announced a significant change in its credit card offerings, affecting customers of the Myntra Kotak Credit Card. The bank is set to discontinue this co-branded card effective July 10, 2023, and will automatically transition existing cardholders to the Kotak League Platinum Credit Card.

Key Points of the Transition

• Discontinuation Date: The Myntra Kotak Credit Card will cease to exist from July 10, 2023.
• Automatic Migration: Current Myntra Kotak Credit Card holders will be seamlessly transferred to the Kotak League Platinum Credit Card.
• Annual Fee: The annual fee for the new card remains unchanged at ₹499.00.

Action Required by Cardholders

Kotak Mahindra Bank has advised its customers to take the following steps:

1. Update Automatic Payments: Cardholders should review and update any automatic payments or standing instructions linked to their Myntra Kotak Credit Card.
2. Review New Features: Customers are encouraged to familiarize themselves with the features and benefits of the Kotak League Platinum Credit Card, as they may differ from those of the Myntra co-branded card.

This move by Kotak Mahindra Bank marks the end of its partnership with Myntra for the co-branded credit card. While the bank ensures a smooth transition for its customers, the change may impact those who specifically chose the card for Myntra-related benefits.

Cardholders should expect to receive detailed communication from Kotak Mahindra Bank regarding this transition, including any changes in terms and conditions, rewards programs, and card usage guidelines. It's advisable for affected customers to closely monitor their account statements and any notifications from the bank during this transition period.

As the financial landscape continues to evolve, such changes in credit card offerings are not uncommon. Banks often reassess their partnerships and product lines to align with market demands and strategic objectives. For Kotak Mahindra Bank, this move could signify a shift in its credit card strategy or a realignment of its co-branding partnerships.

Customers with questions or concerns about this transition are likely to be directed to contact Kotak Mahindra Bank's customer service for personalized assistance and further clarification on how this change might affect their individual accounts.