The board of directors of Kotak Mahindra Bank has redesignated Uday Kotak as Managing Director and Chief Executive Officer. Mr. Kotak was earlier executive Vice Chairman and Managing Director. The Board of Directors has re-designated Mr. Uday Kotak as Managing Director & CEO. Mr. Kotak was the only official among private banks to have a Vice Chairman designation. All others have MD & CEO designation.

Kotak Mahindra Bank reported 27 percent rise in its fourth-quarter consolidated net profit for 2017-18 on healthy growth in advances and higher base of low-cost deposits. Profit after tax on a consolidated level rose to Rs 17.89 billion for the quarter ended March 2018, from Rs 14.04 billion in the year-ago period. Consolidated advances grew 23.3 percent to Rs 2.06 trillion year-on-year at the end of March 2018.

Uday Kotak was the chairman of the corporate governance committee, constituted by the market regulator Securities and Exchange Board of India, which submitted its report in October 2017.

  • The board of directors of Kotak Mahindra Bank has redesignated Uday Kotak as Managing Director and Chief Executive Officer.
  • Uday Kotak was the chairman of the corporate governance committee.
  • Kotak Mahindra Bank reported 27 percent rise in its fourth-quarter consolidated net profit.
  • Profit after tax on a consolidated level rose to Rs 17.89 billion for the quarter ended March 2018.