Private sector lender Kotak Mahindra Bank on Saturday announced the promotion of Paritosh Kashyap, currently group president, to the post of executive director (ED), subject to regulatory approvals. Kashyap has been with the Kotak Group for over three decades and has been heading the wholesale banking business since 2022.
He has led several key businesses, including Structured Finance, Real Estate, and Debt Capital Markets, during his long career with the Group. The bank also said that Shanti Ekambaram, Deputy Managing Director, will be retiring from her role effective October 31, 2025, upon completion of her current term.
Kotak Mahindra Bank leadership rejig
The board expressed its deep appreciation of Ekambaram’s contributions to the Kotak Group, Kotak Mahindra Bank said in a statement. Ekambaram has been with the Kotak Group since 1991 and has played a pivotal role in shaping the Group’s growth and evolution of the institution over the past three decades.
Commenting on the transition, Kotak Mahindra Bank MD and CEO Ashok Vaswani said, “Shanti has been a cornerstone of Kotak’s journey. Her leadership has been marked by entrepreneurial thinking, deep customer insight, bold actions and an unwavering commitment to excellence.”
Kotak Mahindra Bank Q4 Results
Kotak Mahindra Bank announced its January to March quarter results on Saturday, May 3. The institutional lender recorded a 14 per cent fall in its net profits to ₹3,552 crore due to the increase in provision for bad loans in the quarter ended March 31, 2025, compared to ₹4,133 crore in the same period a year ago.
Kotak’s interest income for the January to March quarter rose 10 per cent to ₹13,529.77 crore, compared year-on-year (YoY) with ₹12,307.06 crore in the same period a year ago. The private bank’s provision for bad loans witnessed a 245 per cent increase to ₹909 crore in the fourth quarter, compared to ₹264 crore in the same period a year ago.
Kotak Mahindra Bank’s gross non-performing assets (NPAs) increased three basis points to 1.42 per cent, compared to 1.39 per cent in the same period a year ago. However, the net NPAs for the fourth quarter dropped to 0.31 per cent, compared to its previous level of 0.34 per cent in the same period a year ago, marking a three basis point decline.
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