Nomura has reiterated its “Buy” rating on Kotak Mahindra Bank with a target price of ₹2,170, despite the recent resignation of its COO/CTO, which adds to ongoing top management churn. Analysts are closely monitoring changes in the bank’s leadership, particularly given the recent spate of high-profile exits. The key focus will be on whether these changes impact the bank’s medium-term growth outlook.
Nomura forecasts a 16% loan CAGR and a 15% deposit CAGR for Kotak Mahindra Bank over FY24–27. The brokerage sees this as a critical period for the bank to sustain its growth momentum while navigating leadership transitions.
