ICICI Bank Extends CEO’s Tenure by Two Years
ICICI Bank has approved a two-year extension for Managing Director and Chief Executive Officer Sandeep Bakhshi, deferring succession-related discussions at the country’s second-largest private sector lender. The decision extends his tenure beyond the previously scheduled end, subject to regulatory and shareholder approvals.
Board Cites Continuity
The bank’s board said the move was aimed at ensuring leadership continuity during a period of sustained growth and sector-wide challenges. Bakhshi has been at the helm since 2018 and has overseen improvements in asset quality, profitability, and balance-sheet strength.
Succession Speculation Put on Hold
The extension effectively pauses near-term succession planning, providing the board additional time to evaluate long-term leadership options. Market participants said the decision signals confidence in the current management’s strategy and execution.
Business Context
The extension comes amid a competitive lending environment and heightened regulatory scrutiny across the banking sector. ICICI Bank continues to focus on prudent credit growth, digital expansion, and maintaining asset quality, according to officials.
