Billionaire-Backed Kotak Bank Eyes M&A as CEO Touts Capital

Ashok VaswaniPhotographer: Dhiraj Singh/Bloomberg

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By Siddhi Nayak and Joyce Koh

March 10, 2026 at 2:43 AM UTC

Updated on

March 10, 2026 at 5:42 AM UTC

Kotak Mahindra Bank Ltd. is on the lookout for acquisitions as the billionaire Uday Kotak-backed lender seeks to deploy its excess capital to scale up amid a transformation of India’s financial industry.

India’s fourth-largest private sector bank by assets is open to evaluating potential targets that would advance its strategy, according to Chief Executive Officer Ashok Vaswani. The firm has the capacity to do jumbo deals, he added in response to a question on whether transactions above $1 billion are possible.