Kotak Mahindra Bank targets top 3 private-bank profits by 2030
Kotak Mahindra Bank is setting its sights high: it wants to be one of India's three most profitable private banks by 2030.
CEO Ashok Vaswani says the big focus is on boosting profits, especially from wealthy clients, small businesses, and large institutions.
The plan? Leaning into artificial intelligence, or AI, automation, and tighter cost controls to make things run smoother and smarter.
Acquisitions expand, AI prompts careful hiring
Kotak is also growing through smart acquisitions like Sonata Finance and buying a personal-loan portfolio from Standard Chartered.
But with more AI in the mix, some jobs could change or go away in the next few years, a shift Vaswani admits is coming for banks everywhere.
The bank hopes careful hiring will help balance tech upgrades with people power as it chases that top-three goal.