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Kotak Mahindra Bank shares: The Reserve Bank of India (RBI) has approved the appointment of Anup Kumar Saha as the new managing director and CEO of Kotak Mahindra Bank. Saha will lead the bank for a term of three years, effective 1 January 2027. He will take over from Ashok Vaswani. Saha, who joined Kotak Mahindra Bank in January 2026, is currently a whole-time director of the bank. He has over 32 years of experience, including 25 years in financial services across banking and non–banking financial institutions. The development is expected to impact the stock positively in the long term as Saha's elevation as Vaswani’s successor was largely expected after he was appointed an Executive Director of the bank. As brokerage firm PL Capital highlighted, the proposed leadership transition received strong endorsement from the Chairman, C. S. Rajan, and the outgoing MD & CEO, Ashok Vaswani. "His experience across retail banking, consumer finance, digital platform, analytics and operations would provide a broad leadership base for Kotak Mahindra Bank’s focus on deepening customer relationships and driving sustainable growth," said PL Capital. According to PL Capital, there are issues, such as loan growth, strategy on gold loans, and the utilisation of surplus capital, that may need consideration "While execution remains a key, issues that may need consideration are (i) better loan growth than current run rate of 14-16% given high capital adequacy (22% CET-1), (ii) strategy on gold loans as market share is not meaningful, (iii) plan for the unsecured segment since gold credit is cannibalizing unsecured loans, and (iv) utilisation of surplus capital that is driving suboptimal RoE (nearly 11%) despite superior RoA (nearly 1.9%)," said PL Capital. PL Capital maintained a buy call on the stock and raised the target price to ₹500 from ₹480 earlier. Kotak Mahindra Bank's share price ended 0.53% higher at ₹419.80 on the BSE on 1 October, following the announcement of the new MD and CEO. On the other hand, equity benchmark Sensex closed 0.79% lower at 71,909.70. The stock is up 18% over the last six months, compared with a nearly 2% drop in the Sensex. Read all market-related news here Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary. For about a decade, Livemint—News Desk has been a credible source for authentic and timely news, and well-researched analysis on national news, business, personal finance, corporates, politics and geopolitics. 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