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The Economic Times
The Economic Times
Business
Debaroti Adhikary

Kotak Mahindra Bank shares jump 4% to 8-month high after Anup Kumar Saha named CEO. What Nomura, Jefferies expect

Anup Kumar Saha Kotak Mahindra Bank Nomura Jefferies Anup Saha Ashok Vaswani Uday Kotak Debaroti Adhikary Bajaj Finance SEBI

Shares of Kotak Mahindra Bank jumped nearly 4% to an eight-month high on Thursday after the private lender appointed Anup Kumar Saha as its Managing Director and CEO for a three-year term, effective January 1, 2027.

Saha will succeed Ashok Vaswani, who has decided not to seek reappointment when his current term expires on December 31, 2026, citing personal reasons. Vaswani took charge as MD and CEO on January 1, 2024, succeeding Uday Kotak, one of India's most prominent banking founders.

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