Key Personnel Change
Mr. Manish Kothari, Group President and Head – Commercial Bank and a Senior Management Personnel of the Bank, has tendered his resignation from the services of the Bank. The resignation is effective from the close of business on September 30, 2026.
Transition Plan
The Bank has initiated a planned transition and has integrated the Commercial Bank portfolio handled by Mr. Kothari into the Retail and Institutional business segments.
Resignation Details
The resignation letter dated September 10, 2026, from Mr. Manish Kothari to Mr. Ashok Vaswani (MD & CEO) states:
- Kothari had discussed his interest in pursuing opportunities outside Kotak (possibly entrepreneurial) several months prior
- His last working day will be September 30, 2026, as per earlier understanding
- He has served Kotak for 31 years, witnessing its evolution from a small NBFC to a leading financial services conglomerate
- The transition of various businesses and responsibilities has been completed over the past few months working with WTDs and Business Heads
- He expresses gratitude to the organization, colleagues, and leadership for the trust and opportunities provided
Financial Impact
No specific financial impact quantified in the disclosure. The resignation represents a management change with business portfolio integration already completed.
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