 | Analysts unfazed by Kotak’s surprise exit, keep ratings unchangedJefferies India has retained its ‘Buy’ rating on the counter with a target price of Rs 2,400 per share. Investec has maintained ‘Buy’ rating and retained the target price at Rs 2,300 a share. |
| Veteran banker Uday Kotak resigns as MD and CEO of Kotak Mahindra BankAs an interim arrangement, Dipak Gupta, the joint managing director, will carry out the duties of MD and CEO until December 31. |
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 | Axis Bank, ICICI Bank emerge as top-performing card issuers in July 2023According to RBI, Axis Bank had the fastest MoM growth in the number of cards issued at 1.8%. However, per-card spending grew 2.6% MoM, which was lower than the sector's 4%. |
 | Kotak Bank profit up 67 per cent on higher interest incomeFees and services income rose 20% to Rs 1,827 crore and CASA ratio stood at 49%.Kotak Mahindra Bank’s asset quality was largely stable during the quarter. |
 | Uday Kotak to continue as non-executive board member after retirementThe banker said the regulatory environment must be bold to let entrepreneurship thrive while also maintaining a supportive policy framework. |
