SINCE 2010, Kaku Nakhate has been quietly orchestrating a renaissance at Bank of America, which is one of the preferred banks to large Indian conglomerates. Under her, the bank’s assets have grown to an imposing ₹83,121 crore as of March 2023, from ₹62,333 crore in FY22. Total income has gone beyond ₹4,000 crore, with profits of ₹1,160 crore.
An unabashed India bull, Nakhate is looking to capitalise on India’s $5 trillion GDP journey that is expected to throw up opportunities for asset monetisation even as global funds make a beeline for infrastructure investment. The numbers tell a compelling story: foreign direct investment inflows have doubled to $596 billion over the past decade, with an additional $500 billion expected over the next five years. In the world of high finance, where volatility and uncertainty are constant companions, Nakhate has managed to come into her own, not only breaking the glass ceiling for women but also raising the bar for BankAm in a country that aspires to be the world’s third-largest economy by 2027. — V. Keshavdev