Kotak Mahindra Banks MD & CEO Ashok Vaswani to Depart by December 2026 – Business Standard

### Ashok Vaswani to Step Down as CEO of Kotak Mahindra Bank by December 2026

Ashok Vaswani, Managing Director and CEO of Kotak Mahindra Bank, has announced that he will step down at the end of December 2026. Vaswani has indicated that he does not intend to seek an extension after completing his current three-year term, which has been pivotal for the bank.

Under his leadership, Kotak Mahindra Bank has navigated significant challenges in the banking sector, including the impacts of the COVID-19 pandemic and regulatory changes. His tenure has seen the bank focusing on enhancing digital banking services and improving customer service delivery.

The decision comes as Vaswani cited personal reasons for his early announcement regarding his exit. Discussions are already underway about his successor, with insiders suggesting that two internal candidates are likely in the running for the position. The shortlist for the next CEO is expected to be submitted to the Reserve Bank of India (RBI) soon.

Vaswani joined Kotak Mahindra Bank in 2020, succeeding Uday Kotak in the CEO role, and played a crucial role in steering the bank towards a digital-first strategy that has positioned it favorably in a competitive market. As the banking landscape evolves, his departure could mark a significant transitional period for the institution.