From ICICI Bank and Bajaj Finance to Kotak Mahindra Bank, Anup Kumar Saha’s career has been shaped by retail banking, consumer finance, analytics and digital transformation.
Kotak Mahindra Bank has appointed Anup Kumar Saha as its Managing Director and Chief Executive Officer for a three-year term beginning January 1, 2027, following approval from the Reserve Bank of India.
Saha will succeed Ashok Vaswani, whose current term ends on December 31, 2026. The appointment marks another important leadership transition for the private-sector lender.
A career across banking and consumer finance
Saha brings more than 32 years of professional experience, including around 25 years across banking and non-banking financial services.
He began his career in production engineering at Bharat Heavy Electricals Ltd., before moving into financial services with GE Capital. He subsequently spent 14 years at ICICI Bank, where he worked across areas including retail secured assets, business intelligence, collections, credit cards and retail structured finance.
His next major chapter came at Bajaj Finance, where he held a series of senior leadership positions across consumer finance, MSME, marketing, operations, service and digital platforms. He was appointed Managing Director & CEO of Bajaj Finance in April 2025 and left the role in July 2025.
Less than a year at Kotak before taking the top role
Saha joined Kotak Mahindra Bank in January 2026 and became a Whole-time Director in March 2026. In his current mandate, he oversees the retail banking business along with government business, data analytics and marketing.
Kotak had initiated its CEO succession process after Vaswani decided not to seek reappointment at the end of his current term. The bank subsequently received RBI approval for Saha’s appointment.
What Saha brings to the role
Saha’s professional journey spans several areas that are increasingly central to modern banking: retail finance, consumer lending, data analytics, digital platforms and customer-focused business models.
Kotak’s own leadership profile highlights his experience in consumer finance and digital transformation, while his current responsibilities place him close to the bank’s retail and data-led businesses.
As he takes charge in January 2027, his mandate will include building on Kotak Mahindra Bank’s existing franchise while continuing to deepen customer relationships and pursue sustainable growth.
Saha has said he intends to focus on customer relationships, execution and sustainable value creation for shareholders and other stakeholders.
The leadership transition
Ashok Vaswani took over as Kotak Mahindra Bank’s MD & CEO in January 2024, succeeding founder Uday Kotak. His term concludes on December 31, 2026.
Saha will therefore assume the top leadership position at the beginning of 2027, bringing experience from both traditional banking and the rapidly expanding consumer-finance and digital-lending ecosystem.
For Kotak Mahindra Bank, the next phase will put the focus on how Saha translates this cross-sector financial-services experience into the strategy, execution and customer growth of one of India’s major private-sector banks.
