Kotak Mahindra Bank Targets Top-3 Profitability by 2030 With AI and Cost Cuts

2 articles · Updated · Bloomberg · Jun 19

Kotak Mahindra Bank set a 2030 goal of becoming one of India’s three most profitable private-sector banking groups, sharpening its focus on earnings rather than scale alone.
AI, tighter cost controls and potential acquisitions are central to that push, with CEO Ashok Vaswani saying profitability is the bank’s most important priority.
The strategy is aimed at narrowing Kotak’s gap with larger private-sector rivals from its Mumbai base while reshaping how the lender grows over the next several years.
AI’s bigger role also carries a warning on jobs, underscoring that the bank’s efficiency drive could alter staffing as it pursues higher returns by 2030.