Mumbai, 15 March 2024.

Kotak Mahindra Bank Ltd. (“KMBL” / “Bank”) today announced the appointment of Jaideep Hansraj as Group President - One Kotak. This marks a pivotal move towards leveraging the Group’s financial conglomerate model and delivering holisticpropositions to customers. Jaideep will spearhead a cultural shift towards driving collaboration to unlock internal synergies across the Bank and its subsidiaries. Shripal Shah, currently President and COO at Kotak Securities will take over from Jaideep as the new Managing Director & CEO for Kotak Securities, subject to receipt of necessary approvals. Jaideep will move into the new role on receipt of such approvals or April 1, 2024, whichever is later.

Ashok Vaswani, Managing Director &CEO, Kotak Mahindra Bank said, “Jaideep’s appointment underlies the faith in and the importance of driving a One Kotak mindset in the way we think for our customers. With his rich experience amassed over three decades, through building and scaling various businesses of Kotak in a collaborative mannerJaideep is poised to lead this transformative journey for Kotak to identify and execute the opportunities available to us as a Group.I am also thrilled to welcome Shripal as the new leader for Kotak Securities, further highlighting the deep talent pool within the organization.”

Jaideep Hansrajsaid, “This is an exciting opportunity to build upon our legacy of innovation and growth across the group. I look forward to pursuing new avenues of growth and collaboration across our businesses. This will not only elevate our propositions but also help create lasting value for our customers, stakeholders and communities.”