About Kotak Mahindra Bank Limited

Kotak Mahindra Bank Limited is a diversified financial services group incorporated on November 21, 1985, with its registered office at 27BKC, Bandra-Kurla Complex, Mumbai 400 051. The Bank provides a full suite of financial services spanning Corporate/Wholesale Banking, Retail Banking, and Treasury/BMU/Corporate Centre, which together account for the Bank’s activities as disclosed in the latest Integrated Annual Report. Through its subsidiaries, the Group also offers securities broking, investment banking, asset management, life insurance, pension fund management, alternate assets and international wealth and investment services.

Kotak’s international footprint spans offices in Singapore, London, New York, Dubai, Abu Dhabi and Mauritius, alongside Bank branches at the Dubai International Financial Centre (DIFC) and GIFT City, supporting global custody, wealth and investment propositions. As at March 31, 2025, the Group comprised 20 subsidiaries and associates, reflecting its diversified model across banking, capital markets, asset management and protection.

Key milestones in the latest year include: completion of the divestment of a 70% stake in the general insurance subsidiary to Zurich Insurance Company Limited on June 18, 2024; post-transaction, the business became an associate while the Bank retained a 30% holding . Further, after technology remediation measures, the Reserve Bank of India (RBI) lifted earlier restrictions on new digital customer onboarding and fresh credit card issuance on February 12, 2025.

Kotak Mahindra Bank Limited Key Management

• C S Rajan – Chairman (Part-time, Non-Executive Independent)

• Ashok Vaswani – Managing Director & Chief Executive Officer

• Shanti Ekambaram – Deputy Managing Director

• Devang Gheewalla – Group President and Group Chief Financial Officer

• Avan Doomasia – Senior Executive Vice President and Company Secretary

Latest Updates on Kotak Mahindra Bank Limited

• Strategic portfolio action: On June 18, 2024, the Bank completed the sale of 70% in its general insurance arm to Zurich for a consideration of Rs 4,095.82 crore, recording a pre-tax gain of Rs 3,519.90 crore. The entity ceased to be a subsidiary and is now an associate; the Bank continues to hold 30% as at March 31, 2025.
• Regulatory development: The RBI’s directive of April 24, 2024, restricting new digital customer onboarding and fresh credit cards, was lifted on February 12, 2025, after the Bank implemented remedial IT measures and submitted compliances including an external auditor’s report.

• International and wholesale banking: The Bank secured a licence in GIFT City to provide Global Custody Services, augmenting its international capabilities and complementing DIFC and GIFT City branch offerings to private banking clients.

• International business initiatives: The Group launched the Kotak MSCI India ETF Fund internationally, raising over USD 100 Million within the first month, aligned to scaling the asset management franchise overseas.

• Capital markets franchise: Kotak Securities revised pricing for digital plans in November 2024 and continued to drive digital adoption; Kotak Institutional Equities maintained leadership across cash and derivatives distribution during FY 2024-25.