Anup Kumar Saha, MD and CEO designate, Kotak Mahindra Bank

Retail banking could get a leg up at Kotak Mahindra Bank (KMB) under Anup Kumar Saha, who is set to take the reins at the Bank on January 01, 2027, for three years, say industry experts.

Currently, Whole-time Director (Executive Director) at KMB, the MD & CEO designate is expected to give home loans, loan against property, personal loans, business loans, credit cards, microcredit, among others, renewed thrust in view of his rich experience in the segment over a quarter century.

As at June-end 2026, the private sector bank’s advances mix had a high component of institutional loans (49 per cent), followed by retail loans (39 per cent) and independent business — commercial vehicle/ construction equipment and tractor finance (12 per cent).

Appointment Timeline

Experts say, Saha, who joined KMB in January 2026 from Bajaj Finance, could change the advance mix in favour of retail loans, nudging it closer to 50 per cent in the next couple of years.

His appointment is part of leadership transition process at KMB, which started following incumbent MD & CEO Ashok Vaswani informing the Bank’s Board late June 2026 that, for personal reasons, he does not wish to seek re-appointment upon completion of his current term on December 31, 2026.

KMB veteran and Wholetime Director Paritosh Kashyap was also considered a strong contender for the top position at the Bank.

After Vaswani was appointed Managing Director & CEO of KMB with effect from January 1, 2024, KVS Manian, Whole Time Director designated as Joint Managing Director stepped down from his position on April 30, 2024, to pursue other opportunities in the Financial Services sector.

Manian, who was with the Kotak Group for almost three decades, took charge as MD & CEO of Federal Bank with effect from September 23, 2024

Abundant Experience

KMB insiders say the appointment of Saha, who is currently overseeing the entire Retail Bank, Government Business, Data Analytics and Marketing functions, is unlikely to lead to any high profile exits.

Prior to joining the Bank, Saha was associated with Bajaj Finance Ltd (BFL) (from October 2017 to January 2026) where he progressively held senior roles, rising to the position of the Managing Director & CEO (from April 2025 until his resignation in July 2025).

Prior to BFL, he spent 14 years at ICICI Bank (May 2003–June 2017), where he served in senior roles, leading Retail Secured Assets, Business Intelligence, Retail and Rural Collections, Credit Cards and Retail Structured Finance.

Published on October 1, 2026