Kotak Mahindra Bank shares jump 4%, hit over 3-year high on key leadership changes

The surge follows the private lender’s announcement of key leadership appointments

Shares of Kotak Mahindra Bank jumped over 4 percent to Rs 2,174 on March 24, hitting a 41-month high—its highest level since October 27, 2021. The surge follows the private lender’s announcement of key leadership appointments, including Bhavnish Lathia as the new Chief Technology Officer (CTO).

The stock has gained 22 percent so far in 2025, significantly outperforming the Nifty 50, which has declined 0.5 percent during the same period.

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Lathia takes on the role after the position remained vacant following the resignation of former COO and CTO Milind Nagnur on February 15. Lathia, who joined Kotak in August 2022, previously served as Chief of Customer Experience and Head of Technology – Consumer Bank. His appointment is part of Kotak’s broader strategy to strengthen its leadership team and drive digital transformation.

“His leadership will be crucial in ensuring that Kotak remains at the forefront of technological advancements in the banking sector,” said Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, in an official statement.

The leadership shake-up comes shortly after the Reserve Bank of India (RBI) lifted restrictions on Kotak Mahindra Bank, which had prevented it from issuing new credit cards and digitally onboarding customers due to IT infrastructure concerns. These curbs were in place for 10 months before being removed last month.

In another key appointment, the bank has named Vyomesh Kapasi as Head of Consumer Bank – Product. Kapasi, who has been leading product strategy in the Consumer Banking division since February 2025, will now serve as a member of the Group Management Council and as part of the bank’s senior management team.

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