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Financial Services · NSE: KOTAKBANK · BSE: 500247

Kotak Mahindra Bank: how the business works

Kotak Mahindra Bank takes deposits and lends to households and businesses in India, earning ₹14,008 crore of bank-only profit in FY26.

Kotak Mahindra Bank Limited · Mumbai, Maharashtra · Founded 1985

Last updated · Reviewed by Cityfort Research on

Deposits, 30 Sep 2026
₹6.51 lakh cr
Loans (net advances), 30 Sep 2026
₹5.77 lakh cr
Bank-only net profit, FY26
₹14,008 cr
Customers, 30 Sep 2026
5.1 crore
Promoter holding, Sep 2026
25.87%

For learning only. Cityfort is not a SEBI-registered adviser and does not recommend buying or selling any security. Prices shown are dated and may be out of date.

01 · The business in one line

What does Kotak Mahindra Bank do?

Borrowers pay Kotak Mahindra Bank interest; in FY26, ₹38 of every ₹100 went to depositors and lenders, and ₹21 was profit.

  • Interest earned was ₹83 of every ₹100 that came in to the bank in FY26. Fees and other income made up the other ₹17.
  • Its subsidiaries run stockbroking, mutual funds, life insurance and car loans. Group profit for shareholders was ₹19,288 crore in FY26.

02 · What it sells

What does Kotak Mahindra Bank sell?

Kotak Mahindra Bank is a bank. People and firms keep money in its accounts, and it lends that money at higher rates. Its subsidiaries also run stockbroking, mutual funds, life insurance and investment banking.

  • Deposits: savings, current and fixed

    Accounts for people and firms: ₹6.51 lakh crore at 30 Sep 2026. Current and savings accounts (CASA), which pay little or no interest, were 38.2% of deposits.

  • Retail loans

    Home loans, loans against property, personal loans, credit cards and small microcredit loans: 39% of net advances at 30 Sep 2026. Home loans and loans against property were ₹157,217 crore of this.

  • Loans to companies and small businesses

    Loans to large companies (₹139,786 crore) and small and mid-sized businesses, or SMEs (₹138,700 crore): together 49% of net advances at 30 Sep 2026.

  • Vehicle and equipment loans

    Commercial vehicle, construction equipment and tractor loans: 12% of net advances at 30 Sep 2026.

  • Stockbroking (Kotak Securities)

    A 13.2% share of India's stock-market trading in Q2 FY27, excluding brokers' own trades, the bank says. Profit was ₹1,642 crore in FY26.

  • Mutual funds (Kotak AMC)

    A 6.52% share of equity mutual-fund assets (average, Q2 FY27). The fund company and its trustee earned ₹1,082 crore profit in FY26.

  • Life insurance (Kotak Life)

    Collected ₹21,441 crore of premiums in FY26 and earned ₹628 crore profit.

What it does

  • Does: Takes deposits from people and businesses
  • Does: Lends to home buyers, consumers, small businesses, large companies and vehicle buyers
  • Does: Earns fees on cards, accounts and other services: ₹8,252 crore in FY26
  • Does: Owns a stockbroker, a mutual fund, a life insurer and an investment bank through subsidiaries, all 100% beneficially owned

What it does not do

  • Does not: Run general (car, health, home) insurance as a subsidiary: it sold 70% of Kotak General Insurance to Zurich in Jun 2024 and kept 30%
  • Does not: Have the government as owner: the promoter group held 25.87% at 30 Sep 2026, almost all of it Uday Kotak's own stake
  • Does not: Have many branches compared with the bigger banks: 2,327 at 30 Sep 2026

Source: Media release: results for Q2 FY27 (quarter ended 30 Sep 2026); Investor presentation Q2 FY27; Investor presentation Q4 FY26

03 · Who pays it

Who pays Kotak Mahindra Bank?

  • Home-loan and property-loan borrowers

    Not disclosed

    Owed ₹157,217 crore in home loans and loans against property at 30 Sep 2026: the largest part of retail loans, which were 39% of the loan book.

  • Other retail borrowers

    Not disclosed

    Personal, business and consumer-durable loans (₹26,548 crore), credit cards (₹13,264 crore), microcredit (₹6,779 crore) and loans against FCNR(B) deposits (₹16,110 crore), at 30 Sep 2026.

  • Large companies

    Not disclosed

    Corporate loans of ₹139,786 crore at 30 Sep 2026, including ₹8,915 crore moved in from Kotak Mahindra Investments. Loans to companies and SMEs were 49% of the loan book.

  • Small and mid-sized businesses

    Not disclosed

    SME loans of ₹138,700 crore at 30 Sep 2026, up from ₹109,349 crore a year earlier.

  • Vehicle and equipment buyers

    Not disclosed

    Commercial vehicle and construction equipment loans (₹47,038 crore) and tractor loans (₹20,417 crore): 12% of the loan book at 30 Sep 2026.

  • Customers paying fees

    Not disclosed

    Pay fees and commissions on cards, accounts and services: ₹8,252 crore in FY26. That was ₹12.3 of every ₹100 that came in to the bank.

How spread out the customers are

Kotak Mahindra Bank does not disclose income by customer. The amounts above are loans at 30 Sep 2026, not income; the 39/49/12 split is the bank's own. The bank served 5.1 crore customers then.

Source: Investor presentation Q2 FY27; Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; Media release: results for Q2 FY27 (quarter ended 30 Sep 2026)

04 · How the money flows · FY26

How does money flow through Kotak Mahindra Bank?

Money in

  • Interest on loans₹43,055 cr
  • Income on investments₹10,836 cr
  • Other interest (RBI and inter-bank balances, other)₹1,673 cr
  • Fees and other income₹11,623 cr

The company

Kotak Mahindra Bank

₹67,187 cr came in

Money out

  • Interest paid on deposits and borrowings₹25,554 cr
  • Employees₹8,352 cr
  • Other running costs (incl. depreciation)₹11,215 cr
  • Provisions for bad loans and other risks₹3,481 cr
  • Tax₹4,578 cr
  • Net profit (bank only)₹14,008 cr
  1. These are Kotak Mahindra Bank's own FY26 accounts (standalone), without its broking, fund and insurance subsidiaries.
  2. People and firms keep deposits with the bank, and it also borrows. In FY26 it paid ₹25,554 crore of interest on these.
  3. It lends and invests that money. Interest earned was ₹55,564 crore, of which ₹43,055 crore came from loans.
  4. Fees and other income added ₹11,623 crore.
  5. After staff, running costs, ₹3,481 crore of provisions for possible bad loans and tax, ₹14,008 crore was profit.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY26 and full year, standalone

05 · Where the money goes · FY26

Where does ₹100 of Kotak Mahindra Bank's money go?

Of every ₹100 that came in (revenue plus other income), this is where it went.

Kotak Mahindra Bank · FY26

Receipt for every ₹100

Where ₹100 of Kotak Mahindra Bank's money went in FY26
Interest paid on deposits and borrowings₹38.0
Employees₹12.4
Other running costs₹16.7
Provisions for bad loans and other risks₹5.2
Tax₹6.8
Kept as profit₹20.8
Total₹100

Each line = amount ÷ total money in × 100. Lines may not add to exactly ₹100 because of rounding.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY26 and full year, standalone

06 · What it needs to run

What does Kotak Mahindra Bank need to run?

  • A banking licence and capital

    Kotak Mahindra Finance got an RBI banking licence in Feb 2003. RBI requires banks to keep some of their own money (capital) against loans weighted by risk; this ratio is called CRAR. Kotak Mahindra Bank's was 21.9% at 30 Sep 2026.

  • Deposits

    Deposits of ₹6.51 lakh crore at 30 Sep 2026 fund most of its lending. About ₹55,344 crore came in Q2 FY27 from a special drive for FCNR(B) deposits, which are foreign-currency deposits from non-resident Indians.

  • Borrowings

    Bank-only borrowings were ₹32,475 crore at 31 Mar 2026, down from ₹48,443 crore a year earlier. ICRA and Crisil rate its rupee bonds AAA (stable). In Aug 2026 S&P rated BBB the USD 650 million of notes the bank planned to issue abroad.

  • Branches and ATMs

    2,327 branches and 2,673 ATMs, including cash recyclers, at 30 Sep 2026. It also has branches in GIFT City and Dubai's DIFC.

  • People

    74,054 people worked for the bank at 31 Mar 2026, of whom 60,357 were permanent employees. The whole group had over 112,000 full-time employees at Sep 2026.

Source: Media release: results for Q2 FY27 (quarter ended 30 Sep 2026); Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; ICRA rationale: Kotak Mahindra Bank rating reaffirmed (5 Jun 2026) and 3 more

07 · Why it makes money

Why does Kotak Mahindra Bank make money?

A bank earns the gap between the interest it charges and the interest it pays

Kotak Mahindra Bank takes deposits, lends at higher rates and keeps the gap, called net interest income (NII). Current and savings (CASA) deposits pay little interest, so they keep that gap wide. CASA fell from 60.68% of deposits in FY22 to 43.27% in FY26.

Interest kept per ₹100 of interest earned, after paying interest (bank only)

₹62.2₹54.0

FY22 to FY26

  1. Savers and firms deposit money, 43% of it in current and savings accounts at Mar 2026
  2. The bank lends to households and businesses at higher rates
  3. The gap is net interest income: ₹30,010 crore in FY26
  4. Fees from cards, accounts and services add income
  5. Staff, branches and provisions for bad loans are paid out of it
  6. Profit adds to capital, which lets the bank lend more

↺ Step 6 feeds back into step 1.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY22 and full year, standalone; XBRL financial results Q4 FY26 and full year, standalone

08 · Business segments · FY26

Which businesses make up Kotak Mahindra Bank?

  • Corporate/wholesale banking

    23%

    Loans and banking services for companies and other institutions.

    Revenue ₹26,159 cr · Operating profit ₹8,269 cr

  • Retail banking

    30%

    Loans, cards and deposit accounts for individuals.

    Revenue ₹34,434 cr · Operating profit ₹5,653 cr

  • Treasury and corporate centre

    12%

    The bank's own investments and money-market work (the bank calls it Treasury, BMU and Corporate Centre). FY25's result includes the gain on selling 70% of Kotak General Insurance.

    Revenue ₹13,391 cr · Operating profit ₹5,723 cr

  • Vehicle financing

    4%

    Car and other vehicle loans across the group.

    Revenue ₹4,358 cr · Operating profit ₹796 cr

  • Other lending

    2%

    Other lending in the group, which the bank reports as a separate segment.

    Revenue ₹2,266 cr · Operating profit ₹652 cr

  • Broking

    4%

    Stockbroking, mainly through Kotak Securities.

    Revenue ₹4,716 cr · Operating profit ₹1,506 cr

  • Advisory and transactional

    1%

    Investment banking advice and deal work, mainly through Kotak Mahindra Capital.

    Revenue ₹1,110 cr · Operating profit ₹242 cr

  • Asset management

    3%

    Mutual funds and other investment funds.

    Revenue ₹3,359 cr · Operating profit ₹2,062 cr

  • Insurance

    23%

    Kotak Life; revenue is mostly premiums. Includes general insurance until it was sold on 18 Jun 2024.

    Revenue ₹26,011 cr · Operating profit ₹1,090 cr

How the mix changed

  • Corporate/wholesale banking
  • Retail banking
  • Treasury and corporate centre
  • Vehicle financing
  • Other lending
  • Broking
  • Advisory and transactional
  • Asset management
  • Insurance

Revenue by segment, FY22 to FY26.

₹ crore · Source: XBRL financial results Q4 FY22 and full year, consolidated; XBRL financial results Q4 FY23 and full year, consolidated; XBRL financial results Q4 FY24 and full year, consolidated and 2 more

See the numbers
How the mix changed (₹ crore)
YearCorporate/wholesale bankingRetail bankingTreasury and corporate centreVehicle financingOther lendingBrokingAdvisory and transactionalAsset managementInsurance
FY22₹13,583₹15,263₹8,926₹2,004₹1,476₹2,427₹658₹1,492₹18,181
FY23₹18,131₹19,179₹7,438₹2,607₹1,342₹2,293₹862₹1,660₹19,010
FY24₹22,789₹27,831₹10,956₹3,416₹1,918₹3,214₹1,371₹1,942₹28,110
FY25₹24,786₹33,830₹12,840₹4,101₹2,228₹4,369₹1,682₹2,894₹25,268
FY26₹26,159₹34,434₹13,391₹4,358₹2,266₹4,716₹1,110₹3,359₹26,011

Source: XBRL financial results Q4 FY26 and full year, consolidated; Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR

09 · Competitors and what protects it

Who does Kotak Mahindra Bank compete with?

Kotak Mahindra Bank calls itself the fourth-largest private-sector bank in India by balance-sheet size (Sep 2026). Its own filings and rating reports name no rival banks. The cards below use each rival's FY26 annual report.

  • HDFC Bank

    NSE: HDFCBANK

    Private bank with 9,689 branches; deposits ₹31.1 lakh crore at March 2026.

  • ICICI Bank

    NSE: ICICIBANK

    Private bank with 7,511 branches; deposits ₹17.9 lakh crore at March 2026.

  • Axis Bank

    NSE: AXISBANK

    Private bank with 6,275 branches; deposits ₹13.4 lakh crore at March 2026.

  • State Bank of India

    NSE: SBIN

    Government-owned bank with 23,265 branches in India; deposits ₹59.8 lakh crore at March 2026.

What protects the business

Each strength is scored 1 (weak) to 5 (strong) for the business, with the reason. It is not a rating of the share.

  • Low-cost deposits4 of 5

    CASA deposits were 43.3% of the total at Mar 2026. ICRA puts Kotak's cost of borrowed funds at 4.60%, against 5.30% for private-sector banks (Apr–Dec 2025).

  • Capital4 of 5

    CET1 capital, the bank's core own money, was 21.4% of risk-weighted assets at 30 Sep 2026. Total capital (CRAR) was 21.9%.

  • Range of financial businesses3 of 5

    In FY26, banking and lending earned ₹15,431 crore. Broking and other capital-market arms earned ₹1,992 crore, fund management ₹1,529 crore and insurance ₹628 crore.

Weak spot

Fewer branches, smaller share of low-cost deposits

Kotak had 2,276 branches at 31 Mar 2026, against 6,275 to 23,265 for the four rivals shown. Its CASA ratio fell from 60.68% (FY22) to 38.2% (Sep 2026).

Source: HDFC Bank Integrated Annual Report FY26 (competitor evidence); ICICI Bank Annual Report FY26 (competitor evidence); Axis Bank Annual Report FY26 (competitor evidence) and 5 more

10 · Where growth could come from

Where could Kotak Mahindra Bank's growth come from?

Group CFO Devang Gheewalla said on 2 May 2026 that he expected NIM to fall in FY27, but by much less than in FY26. On 18 Jul 2026 MD & CEO Ashok Vaswani said the bank gives no NIM guidance. Anup Kumar Saha takes over as MD & CEO on 1 Jan 2027. The Q2 FY27 call transcript (24 Oct 2026) was not yet published.
Management statement, 18 Jul 2026. Reported as a statement, not our forecast.

  • Lending to small and mid-sized businesses

    Working

    SME loans +26.8% (year to Sep 2026)

    SME loans reached ₹138,700 crore at 30 Sep 2026, from ₹109,349 crore a year earlier.

    Status: Working, on track against what the company said.

  • Foreign-currency deposit drive

    New

    About ₹55,344 crore raised in Q2 FY27

    Deposits grew 23.2% in the year to Sep 2026; excluding FCNR(B) deposits, the bank put growth at 13%. The bank said NIM fell to 4.31% largely because of this drive.

    Status: New, recently announced.

  • Moving Kotak Mahindra Investments' loans into the bank

    Working

    ₹8,915 crore of loans moved in Q2 FY27

    On 30 May 2026 the board said it expected the transfer to finish in Q2 FY27. The subsidiary's business has been run inside the bank since 1 Apr 2026.

    Status: Working, on track against what the company said.

  • Buying Deutsche Bank's India retail business

    Early

    About ₹29,000 crore of loans, ₹16,000 crore of deposits

    Agreed on 30 Jun 2026 for about ₹281.7 crore. It covers about 150,000 customers and 1,000 staff. Completion is expected by Sep 2027, the filing says.

    Status: Early, too early to judge.

  • Net interest margin

    Mixed

    4.31% in Q2 FY27, from 4.54% in Q2 FY26

    Group CFO Devang Gheewalla said on 2 May 2026 that NIM would fall in FY27 at a slower rate than in FY26. NIM was 4.53% in Q1 FY27.

    Status: Mixed, partly on track.

Status compares progress with what the company itself said it would do: Working = on track against what the company said; Mixed = partly on track; Behind = behind the company's own plan; New = recently announced; Early = too early to judge.

Source: Earnings call transcript Q4 FY26 (call held 2 May 2026); Earnings call transcript Q1 FY27 (call held 18 Jul 2026); Board outcome: appointment of Anup Kumar Saha as MD & CEO, re-appointment of Ashu Suyash (24 Oct 2026) and 5 more

11 · The numbers · bank only (standalone) · ₹ crore

How has Kotak Mahindra Bank done?

Net interest income

₹30,010 crFY26

Bank-only net interest income rose every year, from ₹16,818 crore in FY22 to ₹30,010 crore in FY26.

* FY25: Incl. general-insurance sale gain; Q1 FY25: Incl. general-insurance sale gain; Q2 FY27: FCNR(B) deposit drive.

₹ crore · bank only (standalone) · interest earned minus interest paid · Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY22 and full year, standalone; Integrated Annual Report FY23 (2022-23) (zip; AR_2022_2023.pdf inside) and 27 more

See the yearly numbers
Net interest income by year, ₹ crore
YearInterest earnedInterest paidNet interest income
FY22₹27,039₹10,221₹16,818
FY23₹34,251₹12,699₹21,552
FY24₹45,799₹19,806₹25,993
FY25 (Incl. general-insurance sale gain)₹52,920₹24,578₹28,342
FY26₹55,564₹25,554₹30,010
See the quarterly numbers
Net interest income by quarter, ₹ crore
QuarterNet interest income
Q3 FY24₹6,554
Q4 FY24₹6,909
Q1 FY25 (Incl. general-insurance sale gain)₹6,842
Q2 FY25₹7,020
Q3 FY25₹7,196
Q4 FY25₹7,284
Q1 FY26₹7,259
Q2 FY26₹7,311
Q3 FY26₹7,565
Q4 FY26₹7,875
Q1 FY27₹7,928
Q2 FY27 (FCNR(B) deposit drive)₹8,459

Net profit

₹14,008 crFY26

Bank-only net profit rose from ₹8,573 crore in FY22 to ₹14,008 crore in FY26; FY25's ₹16,450 crore included a one-off gain on selling 70% of the general insurer.

* FY25: Incl. general-insurance sale gain.

₹ crore · bank only (standalone) · Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY22 and full year, standalone; Integrated Annual Report FY23 (2022-23) (zip; AR_2022_2023.pdf inside) and 27 more

See the yearly numbers
Net profit by year, ₹ crore
YearProfit before provisionsProvisionsNet profit
FY22₹12,051₹690₹8,573
FY23₹14,848₹457₹10,939
FY24₹19,587₹1,574₹13,782
FY25 (Incl. general-insurance sale gain)₹21,007₹2,942₹16,450
FY26₹22,067₹3,481₹14,008
See the quarterly numbers
Provisions and net profit by quarter, ₹ crore
QuarterProvisionsNet profit
Q3 FY24₹579₹3,005
Q4 FY24₹264₹4,133
Q1 FY25 (Incl. general-insurance sale gain)₹578₹6,250
Q2 FY25₹660₹3,344
Q3 FY25₹794₹3,305
Q4 FY25₹909₹3,552
Q1 FY26₹1,208₹3,282
Q2 FY26₹947₹3,253
Q3 FY26₹810₹3,446
Q4 FY26₹516₹4,027
Q1 FY27₹668₹4,123
Q2 FY27 (FCNR(B) deposit drive)₹804₹4,212

Net interest margin

4.6%FY26

Net interest margin, as reported, rose from 4.62% in FY22 to 5.33% in FY23, then fell to 4.60% in FY26 and 4.31% in Q2 FY27.

% · as reported by the company · Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY22 and full year, standalone; Integrated Annual Report FY23 (2022-23) (zip; AR_2022_2023.pdf inside) and 27 more

See the numbers
Net interest margin (% · as reported by the company)
PeriodNIM
FY224.62%
FY235.33%
FY245.32%
FY25 (Incl. general-insurance sale gain)4.96%
FY264.6%
Q3 FY245.22%
Q4 FY245.28%
Q1 FY25 (Incl. general-insurance sale gain)5.02%
Q2 FY254.91%
Q3 FY254.93%
Q4 FY254.97%
Q1 FY264.65%
Q2 FY264.54%
Q3 FY264.54%
Q4 FY264.67%
Q1 FY274.53%
Q2 FY27 (FCNR(B) deposit drive)4.31%

Bad loans (gross NPA)

1.20%FY26

Gross NPA (loans not being repaid) fell from 2.34% of loans in FY22 to 1.20% in FY26 and 1.04% at 30 Sep 2026.

* FY25: Incl. general-insurance sale gain; Q1 FY25: Incl. general-insurance sale gain; Q2 FY27: FCNR(B) deposit drive.

% of loans · gross and net (after provisions) non-performing assets · Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY22 and full year, standalone; Integrated Annual Report FY23 (2022-23) (zip; AR_2022_2023.pdf inside) and 27 more

See the yearly numbers
Gross and net NPA by year, % of loans
YearGross NPANet NPAProvision cover
FY222.34%0.64%79.05%
FY231.78%0.37%83.77%
FY241.39%0.34%80.07%
FY25 (Incl. general-insurance sale gain)1.42%0.31%80.38%
FY261.20%0.25%80.49%
See the quarterly numbers
Gross and net NPA by quarter, % of loans
QuarterGross NPANet NPA
Q3 FY241.73%0.34%
Q4 FY241.39%0.34%
Q1 FY25 (Incl. general-insurance sale gain)1.39%0.35%
Q2 FY251.49%0.43%
Q3 FY251.50%0.41%
Q4 FY251.42%0.31%
Q1 FY261.48%0.34%
Q2 FY261.39%0.32%
Q3 FY261.30%0.31%
Q4 FY261.20%0.25%
Q1 FY271.18%0.27%
Q2 FY27 (FCNR(B) deposit drive)1.04%0.24%
See all yearly numbers
Kotak Mahindra Bank lending numbers, FY22–FY26, ₹ crore, bank only (standalone) except EPS (consolidated)
YearInterest earnedNet interest incomeOther incomeOperating costsProvisionsNet profitLoansDepositsEPS (₹, consolidated)
FY22₹27,039₹16,818₹5,986₹10,753₹690₹8,573₹271,254₹311,684₹12.15
FY23₹34,251₹21,552₹7,083₹13,787₹457₹10,939₹319,861₹363,096₹14.99
FY24₹45,799₹25,993₹10,273₹16,679₹1,574₹13,782₹376,075₹448,954₹18.29
FY25 (Incl. general-insurance sale gain)₹52,920₹28,342₹11,418₹18,754₹2,942₹16,450₹426,909₹499,055₹22.26
FY26₹55,564₹30,010₹11,623₹19,566₹3,481₹14,008₹496,009₹572,456₹19.40

EPS is group (consolidated) EPS, as the bank restated it in the FY26 annual report for the Jan 2026 split of each ₹5 share into five ₹1 shares. Quarterly EPS is not shown, because filings before Q3 FY26 are on ₹5 shares.

Net interest income = interest earned on loans and investments minus interest paid on deposits and borrowings. Provisions = money set aside for loans that may not be repaid. Financial year runs April to March.

  • Lending numbers and ratios here are Kotak Mahindra Bank alone (standalone), as the bank reports them. Total income and EPS elsewhere are group (consolidated) figures, which add broking, fund, insurance and other subsidiaries.
  • FY22 other income (₹5,986 crore) and operating expenses (₹10,753 crore) are as restated in the FY26 annual report. Net interest income and operating profit are unchanged.
  • FY25 and Q1 FY25 profit include a ₹3,520 crore pre-tax gain on selling 70% of Kotak General Insurance to Zurich. Excluding it, the bank put FY25 profit at ₹13,720 crore. FY25 ROA (2.21%) and ROE (12.57%) exclude the gain; including it, the bank put ROA at 2.65%.
  • Bank-only ROE for FY22 and FY23 is not shown: the sources on file give only the group figure for those years.
  • Annual provision cover (PCR) includes technical write-offs, as in the annual reports. Quarterly results use a narrower basis: 78% at 30 Sep 2026.
  • In Q2 FY27 the bank raised about ₹55,344 crore of FCNR(B) deposits and moved in ₹8,915 crore of loans from Kotak Mahindra Investments. Excluding these, it put loan growth at 19% and deposit growth at 13% for the year to Sep 2026.

12 · Financial strength · FY26

How strong is Kotak Mahindra Bank's balance sheet?

Capital adequacy (CRAR, the bank's own money as a share of its risk-weighted loans and assets) was 22.40% at 31 Mar 2026, of which CET1 was 21.34%.
  • Loans given (advances)₹4.96 lakh cr
  • Deposits taken₹5.72 lakh cr

Loans were 87% of deposits (credit–deposit ratio) at the end of FY26.

Capital adequacy (CRAR)
22.4%
capital as a share of risk-weighted loans; regulators set a minimum
Core equity (CET1)
21.34%
the highest-quality part of that capital
Gross NPA
1.2%
loans not being repaid, as % of all loans
Net NPA
0.25%
the same, after money already set aside
Provision cover
80.49%
share of bad loans already provided for
CASA ratio
43.27%
deposits in current and savings accounts, which usually pay low interest
Cost to income
47.0%
₹ of running costs per ₹100 of income after interest paid
Return on assets
1.97%
profit as % of everything the lender owns
Return on equity
11.08%
profit as % of shareholders' money

Figures as on FY26 year end (standalone, as banks report these ratios). Reported by the company; see the dates on each source.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; XBRL financial results Q4 FY26 and full year, standalone; Media release: results for Q4 FY26 and FY26 (year ended 31 Mar 2026)

13 · Who owns it · Q2 FY27

Who owns Kotak Mahindra Bank?

  • Promoters (founders or parent company)25.9%
  • Foreign institutions (FII)24.7%
  • Indian institutions (DII)38.5%
  • Public and others10.9%

Promoter pledge

No promoter shares were pledged in Q2 FY27.

How ownership changed
Kotak Mahindra Bank shareholding by quarter, %
QuarterPromotersFIIDIIPublicPledged*
Q3 FY2425.9%39.7%21.4%12.9%0.0%
Q4 FY2425.9%37.6%23.4%13.1%0.0%
Q1 FY2525.9%33.2%27.7%13.2%0.0%
Q2 FY2525.9%33.4%27.9%12.8%0.0%
Q3 FY2525.9%32.5%28.8%12.9%0.0%
Q4 FY2525.9%32.7%29.1%12.3%0.0%
Q1 FY2625.9%32.3%29.6%12.2%0.0%
Q2 FY2625.9%29.8%32.0%12.4%0.0%
Q3 FY2625.9%29.4%32.9%11.9%0.0%
Q4 FY2625.9%26.4%36.2%11.6%0.0%
Q1 FY2725.9%25.2%37.7%11.2%0.0%
Q2 FY2725.9%24.7%38.5%10.9%0.0%

* Pledged = share of the promoters' own holding reported as pledged. In older filings this can include shares “otherwise encumbered”; the governance flags say when.

Source: Shareholding pattern (XBRL), quarter ended 31 Dec 2023; Shareholding pattern (XBRL), quarter ended 31 Mar 2024; Shareholding pattern (XBRL), quarter ended 30 Jun 2024 and 9 more

14 · What it does with profit

What does Kotak Mahindra Bank do with its profit?

Dividends are shown per share as declared. FY22 to FY25 are per ₹5 share. FY26's ₹0.65 is per ₹1 share, after each ₹5 share was split into five ₹1 shares in Jan 2026. No buybacks appear in the bank's 2022–2026 filings on file.

Dividend per share

₹0.65FY26

Dividend paid for each share, by financial year.

₹ per share · Source: Annual Report FY22 (2021-22) (zip; AR_2021_2022.pdf inside); Media release: results for Q4 FY23 and FY23; Media release: results for Q4 FY24 and FY24 and 2 more

See the numbers
Dividend per share (₹ per share)
YearDividend per shareShare of profit paid out
FY22₹1.10–
FY23₹1.50–
FY24₹2.00–
FY25₹2.50–
FY26₹0.65–

No buybacks or fund raises in the period covered.

15 · Who runs it

Who runs Kotak Mahindra Bank, and did they deliver?

  • Ashok Vaswani

    Managing Director & CEO (to 31 Dec 2026) · since 2024

    Appointed for three years from 1 Jan 2024. Anup Kumar Saha succeeds him on 1 Jan 2027.

  • Anup Kumar Saha

    Whole-time Director; MD & CEO from 1 Jan 2027 · since 2026

    Joined in Jan 2026 after roles at Bajaj Finance and ICICI Bank. RBI approved him as MD & CEO (bank filing, 1 Oct 2026); the board approved on 24 Oct 2026. Members' approval is pending.

  • Uday Kotak

    Non-Executive Director

    Was MD & CEO until 1 Sep 2023, when he stepped down. He held 25.69% of the bank's shares at 30 Sep 2026.

  • C S Rajan

    Part-time Chairman (independent)

  • Devang Gheewalla

    Group President & Group CFO

What they said, and what happened

2 delivered · 1 partly delivered · 2 too early to tell

  1. Said on 25 Oct 2025

    Expected credit cost to moderate gradually over the next two quarters (Group CFO Devang Gheewalla).

    What happened

    Credit cost was 0.79% in Q2 FY26, 0.63% in Q3 FY26 and 0.39% in Q4 FY26.

    Delivered

  2. Said on 25 Oct 2025

    Expected deposit repricing to lift NIM over the next two quarters, assuming no further rate cuts (MD & CEO Ashok Vaswani).

    What happened

    NIM was 4.54% in Q2 FY26, unchanged at 4.54% in Q3 FY26, and 4.67% in Q4 FY26.

    Partly delivered

  3. Said on 2 May 2026

    Expected NIM to fall in FY27, but by much less than in FY26 (Group CFO Devang Gheewalla).

    What happened

    NIM was 4.60% in FY26, 4.53% in Q1 FY27 and 4.31% in Q2 FY27. The bank said Q2 FY27 fell largely because of the FCNR(B) deposit drive. FY27 ends on 31 Mar 2027.

    Too early to tell

  4. Said on 30 May 2026

    Expected to finish moving Kotak Mahindra Investments' loans into the bank during Q2 FY27 (board).

    What happened

    ₹8,915 crore of loans moved into the bank in Q2 FY27.

    Delivered

  5. Said on 30 Jun 2026

    Expected the Deutsche Bank India retail business purchase to complete by Sep 2027 (filing).

    What happened

    Not yet reported.

    Too early to tell

Source: Intimation: appointment of Ashok Vaswani as MD & CEO from 1 Jan 2024 (17 Nov 2023); Board outcome: appointment of Anup Kumar Saha as MD & CEO, re-appointment of Ashu Suyash (24 Oct 2026); Intimation: RBI approves Anup Kumar Saha as MD & CEO from 1 Jan 2027 (1 Oct 2026) and 13 more

16 · Governance signals

What do Kotak Mahindra Bank's governance filings show?

Auditor
Deloitte Haskins & Sells and M M Nissim & Co LLP (joint statutory auditors)
Auditor changes
2 Aug 2025: KKC & Associates → M M Nissim & Co LLP (KKC & Associates' term ended at the 40th AGM on 2 Aug 2025.)
Audit qualifications
None reported
Related-party dealings
Kotak Mahindra Bank's main related parties are its subsidiaries, all 100% beneficially owned, and Zurich Kotak General Insurance (30% owned). On 21 Mar 2026 subsidiary Kotak Mahindra Capital sold 8.99% of Infina Finance to KF Trust for ₹375.36 crore. The filing says KF Trust's beneficiaries belong to the promoter group and calls the deal a related-party transaction at arm's length.
Credit rating
ICRA AAA (Stable), 5 Jun 2026

A credit rating describes the company's ability to repay debt. It is not a rating of the share.

Flags to know about

  • regulatory · 24 Apr 2024

    RBI restrictions on online onboarding and new credit cards, Apr 2024 to Feb 2025

    On 24 Apr 2024 RBI ordered the bank, under Section 35A, to stop onboarding new customers through online and mobile banking and to stop issuing new credit cards. RBI cited deficiencies found in its IT examination. The bank said then that the order would not materially affect its overall business. RBI lifted the restrictions on 12 Feb 2025.

  • regulatory · 19 Dec 2025

    RBI penalty of ₹61.95 lakh

    RBI fined the bank ₹61.95 lakh by an order of 11 Dec 2025, for non-compliance with rules on credit information companies found in an inspection for FY24. The reason is as described in the bank's filing.

  • other · 27 Mar 2026

    Exchange query on an alleged fixed-deposit fraud

    On 27 Mar 2026 the exchanges asked the bank about a news item on an alleged ₹160 crore fixed-deposit fraud linked to Panchkula Municipal Corporation. The bank said it saw no material impact, was examining the matter and was cooperating with the authorities.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; Investor presentation Q2 FY27; Intimation: sale of stake in Infina Finance by Kotak Mahindra Capital (21 Mar 2026) and 5 more

17 · What the market paid · price as of 30 Jun 2026

What did the market pay for Kotak Mahindra Bank on 30 Jun 2026?

Price as of 30 Jun 2026 (shown for education; prices change daily).

Price as of 30 Jun 2026 (data at least 3 months old, shown for education): ₹392.25 on NSE. Market value: ₹390,160 crore, on 9,946,709,153 shares at 30 Jun 2026. P/E is the share price divided by one year's profit per share: here FY26 group EPS of ₹19.40 (20.2). P/B divides the price by book value (shareholders' money) per share: group ₹182.09 at 31 Mar 2026 (2.2). EV/EBITDA is not shown, because interest is a bank's main running cost.

Share price
₹392.25
Market value (market cap)
₹390,160 cr
P/E
20.2×
P/B
2.2×

Source: NSE full security-wise bhavdata, 30 Jun 2026; Shareholding pattern (XBRL), quarter ended 30 Jun 2026; Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR

18 · What could go wrong

What could go wrong for Kotak Mahindra Bank?

  • Pricing

    Narrower lending margin

    Net interest margin, as reported, fell from 5.33% in FY23 to 4.60% in FY26 and 4.31% in Q2 FY27. The bank said the Q2 FY27 fall came largely from its FCNR(B) deposit drive. ICRA (Jun 2026) expects pressure on margins in FY27.

    Watch Quarterly NIM and the CASA ratio.

  • Cash and liquidity

    Smaller share of low-cost deposits

    Current and savings (CASA) deposits fell from 60.68% of deposits in FY22 to 43.27% in FY26. At 30 Sep 2026 they were 38.2%, or 41.8% excluding FCNR(B) deposits. Other deposits usually pay more interest.

    Watch CASA ratio and cost of funds (4.52% in Q2 FY27) in each quarter's results.

  • Other

    Higher provisions for bad loans

    Bank-only provisions rose from ₹457 crore in FY23 to ₹3,481 crore in FY26. Credit cost (provisions as a share of loans) was 0.65% in FY26, up from 0.60% in FY25. ICRA (Jun 2026) expects credit costs to rise.

    Watch Credit cost and new bad loans (slippages: ₹1,230 crore in Q2 FY27).

  • Regulation

    New loan-loss accounting from Apr 2027

    RBI's expected credit loss (ECL) rules, which make banks provide for losses earlier, start on 1 Apr 2027, ICRA notes. On 18 Jul 2026 Group CFO Devang Gheewalla put the one-time impact below 2% of net worth. He said credit cost would rise by about 0.12–0.15 percentage points once ECL starts.

    Watch The bank's ECL estimates in FY27 results and calls.

  • Technology

    Regulatory action over technology

    From Apr 2024 to Feb 2025 RBI barred the bank from onboarding customers online and issuing new credit cards, citing deficiencies found in its IT examination.

    Watch Any new RBI action, card numbers and fee income.

  • Execution

    Leadership change and two business transfers

    Anup Kumar Saha becomes MD & CEO on 1 Jan 2027, three years after Ashok Vaswani became MD & CEO. The bank is also taking in Kotak Mahindra Investments' business and, by Sep 2027, Deutsche Bank's India retail business.

    Watch Members' approval of Mr Saha, and completion of the Deutsche Bank deal.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; Media release: results for Q2 FY27 (quarter ended 30 Sep 2026); ICRA rationale: Kotak Mahindra Bank rating reaffirmed (5 Jun 2026) and 9 more

19 · How it got here

How did Kotak Mahindra Bank get here?

  1. 1985

    Milestone

    Company incorporated

    The company that became Kotak Mahindra Bank was incorporated on 21 Nov 1985.

  2. 2003

    Business-model change

    Finance company becomes a bank

    Kotak Mahindra Finance got an RBI banking licence in Feb 2003. The bank says it was the first non-bank finance company in India to become a bank.

  3. 2023

    Business-model change

    Uday Kotak steps down as CEO

    Uday Kotak stopped being MD & CEO on 1 Sep 2023 and stayed on the board. Ashok Vaswani took over on 1 Jan 2024.

  4. 2024

    Crisis

    RBI stops online onboarding and new cards

    On 24 Apr 2024 RBI ordered the bank to stop onboarding customers online and issuing new credit cards, citing IT examination deficiencies.

  5. 2024

    Business-model change

    General insurer sold to Zurich

    Zurich completed buying 70% of Kotak General Insurance on 18 Jun 2024; the bank kept 30%. The gain lifted FY25 profit.

  6. 2025

    Milestone

    Personal loans bought; RBI lifts restrictions

    The bank bought Standard Chartered's India personal-loan book of ₹3,330 crore on 23 Jan 2025. RBI lifted its 2024 restrictions on 12 Feb 2025.

  7. 2026

    Milestone

    Share split

    Each ₹5 share became five ₹1 shares, with a record date of 14 Jan 2026.

  8. 2026

    Business-model change

    Deal for Deutsche Bank's India retail business

    On 30 Jun 2026 the bank agreed to buy Deutsche Bank's India retail, private banking and wealth business: about ₹29,000 crore of loans and ₹16,000 crore of deposits.

Source: Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR; Media release: results for Q2 FY27 (quarter ended 30 Sep 2026); Intimation: Uday Kotak ceases to be MD & CEO; interim arrangement (2 Sep 2023) and 8 more

20 · Both sides

What do supporters and critics point to?

Facts each side points to. We don't say which side is right.

What supporters point to

  • Gross NPA fell from 2.34% of loans in FY22 to 1.04% at 30 Sep 2026. Net NPA was 0.24%.
  • CET1 capital, the bank's core own money, was 21.4% of risk-weighted assets at 30 Sep 2026.
  • ICRA put Kotak's cost of borrowed funds at 4.60% for Apr–Dec 2025, against 5.30% for private-sector banks.
  • Subsidiaries earned ₹1,992 crore from broking and other capital-market work and ₹1,529 crore from fund management in FY26.
  • ICRA and Crisil rated the bank's debt AAA with a stable outlook (Apr–Jun 2026). AAA is their highest grade for ability to repay. The ratings cover debt, not the shares.

What critics point to

  • Net interest margin, as reported, fell from 5.33% in FY23 to 4.60% in FY26 and 4.31% in Q2 FY27.
  • CASA deposits fell from 60.68% of deposits in FY22 to 38.2% at 30 Sep 2026 (41.8% excluding FCNR(B) deposits).
  • Bank-only return on equity was 11.08% in FY26, down from 15.34% in FY24.
  • RBI barred online onboarding and new credit cards from Apr 2024 to Feb 2025, citing deficiencies found in its IT examination.
  • Anup Kumar Saha becomes MD & CEO on 1 Jan 2027, three years after Ashok Vaswani became MD & CEO on 1 Jan 2024.

21 · What to watch next

What should you watch next at Kotak Mahindra Bank?

Next event

Q3 FY27 results (expected late Jan, based on the last three Q3 dates)

23 Jan 2027

Expected, based on last year's date

  • Margin and deposit mix after the FCNR(B) drive

    NIM was 4.31% and CASA 38.2% in Q2 FY27. The bank linked both to its special foreign-currency deposit drive.

  • The new MD & CEO

    Anup Kumar Saha takes over on 1 Jan 2027, subject to members' approval. The Q2 FY27 call transcript was not yet public on 26 Oct 2026.

  • Deals and new accounting rules

    The Deutsche Bank retail deal is expected to complete by Sep 2027. RBI's expected credit loss rules start on 1 Apr 2027.

22 · Key facts

Key facts about Kotak Mahindra Bank

What does Kotak Mahindra Bank do?
Kotak Mahindra Bank is a private-sector bank in India that takes deposits and lends to households and businesses. At 30 Sep 2026 Kotak Mahindra Bank held deposits of ₹6.51 lakh crore and net advances (loans) of ₹5.77 lakh crore. Its subsidiaries run stockbroking, mutual funds and life insurance.
How does Kotak Mahindra Bank make money?
Kotak Mahindra Bank earns mainly the gap between the interest it charges borrowers and the interest it pays depositors and lenders. In FY26, Kotak Mahindra Bank's own net interest income was ₹30,010 crore. Its other income, mainly fees, was ₹11,623 crore.
Who are Kotak Mahindra Bank's customers?
Kotak Mahindra Bank had 5.1 crore customers at 30 Sep 2026. Of Kotak Mahindra Bank's net advances then, retail loans such as home loans and cards were 39%. Loans to companies and small businesses were 49%, and vehicle and equipment loans 12%.
How big is Kotak Mahindra Bank?
Kotak Mahindra Bank's bank-only net profit was ₹14,008 crore in FY26. In FY25 it was ₹16,450 crore, including a one-off gain on selling 70% of its general insurer. Group profit for Kotak Mahindra Bank shareholders was ₹19,288 crore in FY26. Kotak Mahindra Bank had 2,327 branches at 30 Sep 2026.
Who owns Kotak Mahindra Bank?
At 30 Sep 2026 the promoter group held 25.87% of Kotak Mahindra Bank, almost all of it Uday Kotak's own 25.69%. Indian institutions held 38.54% of Kotak Mahindra Bank, foreign portfolio investors 24.65%, and individuals and others 10.94%. No promoter shares were pledged.
What is Kotak Mahindra Bank's net interest margin?
Net interest margin (NIM) is interest earned minus interest paid, as a share of the money a bank has lent and invested. Kotak Mahindra Bank reported 4.60% for FY26, down from 5.33% in FY23. Kotak Mahindra Bank reported 4.31% for Q2 FY27 (Jul–Sep 2026).
How many of Kotak Mahindra Bank's loans have gone bad?
Kotak Mahindra Bank's gross NPA (loans not being repaid) was 1.04% of its loans at 30 Sep 2026, down from 2.34% at 31 Mar 2022. After money already set aside, Kotak Mahindra Bank's net NPA was 0.24% at 30 Sep 2026.
Who runs Kotak Mahindra Bank?
Ashok Vaswani has been Kotak Mahindra Bank's MD & CEO since 1 Jan 2024. Anup Kumar Saha becomes Kotak Mahindra Bank's MD & CEO on 1 Jan 2027; RBI and the board have approved him and members' approval is pending. C S Rajan is Kotak Mahindra Bank's part-time Chairman.
What was Kotak Mahindra Bank's 2026 share split?
Kotak Mahindra Bank split each ₹5 share into five ₹1 shares, with a record date of 14 Jan 2026. Kotak Mahindra Bank had 9,947,881,278 shares at 30 Sep 2026.

Source: Media release: results for Q2 FY27 (quarter ended 30 Sep 2026); Investor presentation Q2 FY27; Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR and 8 more

Terms on this page

Each explains the term in plain English, with the same number from other companies on Cityfort.

23 · Sources and changes

Where every number on this page comes from

Sources (86 documents)
  1. S1Integrated Annual Report FY26 (2025-26), incl. standalone and consolidated statements and BRSR · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 16 Sep 2026
  2. S2Integrated Annual Report FY25 (2024-25) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 28 Aug 2025
  3. S3Integrated Annual Report FY24 (2023-24) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 27 Sep 2024
  4. S4Integrated Annual Report FY23 (2022-23) (zip; AR_2022_2023.pdf inside) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 14 Jul 2023
  5. S5Annual Report FY22 (2021-22) (zip; AR_2021_2022.pdf inside) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 27 Jul 2022
  6. S6Media release: results for Q2 FY27 (quarter ended 30 Sep 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Oct 2026
  7. S7Investor presentation Q2 FY27 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Oct 2026
  8. S8Media release: results for Q1 FY27 (quarter ended 30 Jun 2026), revised filing of 18 Jul 2026 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jul 2026
  9. S9Media release: results for Q4 FY26 and FY26 (year ended 31 Mar 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 2 May 2026
  10. S10Investor presentation Q4 FY26 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 2 May 2026
  11. S11Media release: results for Q3 FY26 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Jan 2026
  12. S12Media release: results for Q2 FY26 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 25 Oct 2025
  13. S13Media release: results for Q1 FY26 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 26 Jul 2025
  14. S14Media release: results for Q4 FY25 and FY25 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 3 May 2025
  15. S15Media release: results for Q3 FY25 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jan 2025
  16. S16Media release: results for Q2 FY25 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 19 Oct 2024
  17. S17Media release: results for Q1 FY25 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jul 2024
  18. S18Media release: results for Q4 FY24 and FY24 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 4 May 2024
  19. S19Media release: results for Q3 FY24 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jan 2024
  20. S20Media release: results for Q4 FY23 and FY23 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 29 Apr 2023
  21. S21Earnings call transcript Q1 FY27 (call held 18 Jul 2026) · Kotak Mahindra Bank investor relations (kotak.bank.in) · Tier 1: company or exchange filing · 24 Jul 2026
  22. S22Earnings call transcript Q4 FY26 (call held 2 May 2026) · Kotak Mahindra Bank investor relations (kotak.bank.in) · Tier 1: company or exchange filing · 8 May 2026
  23. S24Earnings call transcript Q2 FY26 (call held 25 Oct 2025) · Kotak Mahindra Bank investor relations (kotak.bank.in) · Tier 1: company or exchange filing · 30 Oct 2025
  24. S25XBRL financial results Q4 FY22 and full year, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 4 May 2022
  25. S26XBRL financial results Q4 FY23 and full year, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 29 Apr 2023
  26. S27XBRL financial results Q3 FY24, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jan 2024
  27. S28XBRL financial results Q4 FY24 and full year, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 4 May 2024
  28. S29XBRL financial results Q1 FY25, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jul 2024
  29. S30XBRL financial results Q2 FY25, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 19 Oct 2024
  30. S31XBRL financial results Q3 FY25, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 29 Jan 2025
  31. S32XBRL financial results Q4 FY25 and full year, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 6 May 2025
  32. S33XBRL financial results Q1 FY26, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 26 Jul 2025
  33. S34XBRL financial results Q2 FY26, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 25 Oct 2025
  34. S35XBRL financial results Q3 FY26, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Jan 2026
  35. S36XBRL financial results Q4 FY26 and full year, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 2 May 2026
  36. S37XBRL financial results Q1 FY27, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jul 2026
  37. S38XBRL financial results Q2 FY27, standalone · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Oct 2026
  38. S39XBRL financial results Q4 FY22 and full year, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 4 May 2022
  39. S40XBRL financial results Q4 FY23 and full year, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 29 Apr 2023
  40. S41XBRL financial results Q3 FY24, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jan 2024
  41. S42XBRL financial results Q4 FY24 and full year, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 4 May 2024
  42. S43XBRL financial results Q1 FY25, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Jul 2024
  43. S44XBRL financial results Q2 FY25, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 19 Oct 2024
  44. S45XBRL financial results Q3 FY25, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jan 2025
  45. S46XBRL financial results Q4 FY25 and full year, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 6 May 2025
  46. S47XBRL financial results Q1 FY26, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 26 Jul 2025
  47. S48XBRL financial results Q2 FY26, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 25 Oct 2025
  48. S49XBRL financial results Q3 FY26, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Jan 2026
  49. S50XBRL financial results Q4 FY26 and full year, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 2 May 2026
  50. S51XBRL financial results Q1 FY27, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jul 2026
  51. S52XBRL financial results Q2 FY27, consolidated · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Oct 2026
  52. S54Shareholding pattern (XBRL), quarter ended 31 Dec 2023 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 13 Jan 2024
  53. S55Shareholding pattern (XBRL), quarter ended 31 Mar 2024 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 12 Apr 2024
  54. S56Shareholding pattern (XBRL), quarter ended 30 Jun 2024 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 10 Jul 2024
  55. S57Shareholding pattern (XBRL), quarter ended 30 Sep 2024 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 17 Oct 2024
  56. S58Shareholding pattern (XBRL), quarter ended 31 Dec 2024 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 9 Jan 2025
  57. S59Shareholding pattern (XBRL), quarter ended 31 Mar 2025 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 11 Apr 2025
  58. S60Shareholding pattern (XBRL), quarter ended 30 Jun 2025 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 15 Jul 2025
  59. S61Shareholding pattern (XBRL), quarter ended 30 Sep 2025 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 14 Oct 2025
  60. S62Shareholding pattern (XBRL), quarter ended 31 Dec 2025 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 16 Jan 2026
  61. S63Shareholding pattern (XBRL), quarter ended 31 Mar 2026 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 16 Apr 2026
  62. S64Shareholding pattern (XBRL), quarter ended 30 Jun 2026 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 14 Jul 2026
  63. S65Shareholding pattern (XBRL), quarter ended 30 Sep 2026 · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 15 Oct 2026
  64. S66ICRA rationale: Kotak Mahindra Bank rating reaffirmed (5 Jun 2026) · ICRA Ltd · Tier 2: rating agency or regulator · 5 Jun 2026
  65. S67Crisil Ratings rationale: Kotak Mahindra Bank ratings reaffirmed (6 Apr 2026) · Crisil Ratings Ltd · Tier 2: rating agency or regulator · 6 Apr 2026
  66. S68Intimation: S&P assigns BBB to USD 650 mn senior notes under EMTN programme (20 Aug 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 20 Aug 2026
  67. S69Intimation: RBI order under Section 35A to stop online/mobile onboarding and new credit cards (24 Apr 2024) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Apr 2024
  68. S70Intimation: RBI lifts supervisory restrictions (12 Feb 2025) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 12 Feb 2025
  69. S72Intimation: completion of Standard Chartered personal loan book acquisition (23 Jan 2025) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 23 Jan 2025
  70. S75Intimation: Zurich completes acquisition of 70% of Kotak General Insurance (18 Jun 2024) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jun 2024
  71. S76Intimation: RBI penalty of Rs 61.95 lakh under Credit Information Companies rules (19 Dec 2025) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 19 Dec 2025
  72. S77Board outcome: sub-division of each Rs 5 share into five Rs 1 shares (21 Nov 2025) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 21 Nov 2025
  73. S78Intimation: record date 14 Jan 2026 for share sub-division (27 Dec 2025) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 27 Dec 2025
  74. S79Disclosure: business transfer agreement to acquire Deutsche Bank's India retail, private banking and wealth business (30 Jun 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 30 Jun 2026
  75. S80Intimation: RBI approves Anup Kumar Saha as MD & CEO from 1 Jan 2027 (1 Oct 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 1 Oct 2026
  76. S81Board outcome: appointment of Anup Kumar Saha as MD & CEO, re-appointment of Ashu Suyash (24 Oct 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 24 Oct 2026
  77. S82Intimation: Uday Kotak ceases to be MD & CEO; interim arrangement (2 Sep 2023) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 2 Sep 2023
  78. S83Intimation: appointment of Ashok Vaswani as MD & CEO from 1 Jan 2024 (17 Nov 2023) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 17 Nov 2023
  79. S84Intimation: sale of stake in Infina Finance by Kotak Mahindra Capital (21 Mar 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 21 Mar 2026
  80. S85Intimation: acquisition of loan portfolio from Kotak Mahindra Investments by direct assignment (30 May 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 30 May 2026
  81. S87Clarification to exchanges on news item about alleged FD fraud linked to Panchkula Municipal Corporation (27 Mar 2026) · NSE (company filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 27 Mar 2026
  82. S89NSE full security-wise bhavdata, 30 Jun 2026 · NSE (nsearchives.nseindia.com) · Tier 1: company or exchange filing · 30 Jun 2026
  83. S91HDFC Bank Integrated Annual Report FY26 (competitor evidence) · NSE (HDFC Bank filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 11 Jul 2026
  84. S92ICICI Bank Annual Report FY26 (competitor evidence) · NSE (ICICI Bank filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 18 Jul 2026
  85. S93Axis Bank Annual Report FY26 (competitor evidence) · NSE (Axis Bank filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 25 Jun 2026
  86. S94State Bank of India Annual Report FY26 (competitor evidence) · NSE (SBI filing, nsearchives.nseindia.com) · Tier 1: company or exchange filing · 26 May 2026
Changes to this page (v1 · 26 Oct 2026)
  1. v1 · 26 Oct 2026First version. (first version)

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