ICICI Bank denies CEO and MD Sandeep Bakhshi willing to quit: ‘Baseless’
ICICI Bank denied reports of CEO and MD Sandeep Bakhshi willing to quit his position. Terming The Morning Context report as ‘baseless’, and a ‘figment of imagination’, ICICI Bank said, “We would like to categorically deny the information published in the article regarding ICICI Bank’s MD allegedly expressing willingness to leave his position due to personal reasons.”
The bank added, “This information is figment of imagination and therefore, completely brless and misleading. It appears that this rumour is being spread with an ulterior motive and malicious intent in order to harm the Bank and its stakeholders.”
The report claimed that Sandeep Bakhshi wanted to be relieved as MD and CEO due to personal emergency but the Reserve Bank of India (RBI) was against his departure.
This comes as ICICI Bank emerged as the fifth Indian company and the second bank to surpass ₹8-lakh-crore market capitalisation for the first time last week.
The bank’s shares rallied over 4 per cent as it reported a net profit of ₹10,708 crore in Q4 FY24 which was up 20 per cent from Q4 FY23. ICICI Bank achieved a ROA of 2.4 per cent in FY24 and the net interest income (NII) rose 8 per cent to ₹19,093 crore in Q4 FY24, it said.
