Kotak Mahindra Bank

Kotak Mahindra Bank has announced the promotion of Paritosh Kashyap, the current Group President, to the position of Executive Director, pending regulatory approvals. Kashyap, a veteran with over 30 years at Kotak, has been steering the wholesale banking segment since 2022 and has overseen pivotal areas such as Structured Finance, Real Estate, and Debt Capital Markets. Concurrently, the bank is preparing for the retirement of Deputy Managing Director Shanti Ekambaram, who has been instrumental in the Group's growth since 1991.

Kotak Mahindra Bank faced sharp selling pressure on the bourses after posting a weaker-than-expected financial performance for the March quarter of FY 2024–25. Shares of the private sector lender plummeted nearly 6% on both the BSE and NSE following a 7.57% year-on-year decline in consolidated net profit to Rs. 4,933 crore. The drop was driven by stress in the microfinance lending segment and a contraction in net interest margin.