Sandeep Bakshi Reappointed as ICICI Bank MD & CEO After RBI Approval

Shubham Mittal

8 months ago

ICICI Bank, one of India’s leading private sector banks, has received approval from the Reserve Bank of India (RBI) for the re-appointment of Sandeep Bakhshi as the Managing Director and Chief Executive Officer (MD and CEO) of the bank. This approval is significant as it ensures the stability and continuity of leadership within the bank. Sandeep Bakhshi’s re-appointment underscores his role in guiding the bank’s strategic direction and operations.

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ICICI Bank’s Trust in Bakshi’s Leadership

In an exchange filing made on September 11, it was announced that the Reserve Bank of India (RBI) has approved the reappointment of Sandeep Bakhshi as the MD and CEO of ICICI Bank. His re-appointment will take effect from October 4, 2023, and extends his term until October 3, 2026. This three-year extension demonstrates the confidence of both the board of directors and the RBI in Mr. Bakhshi’s leadership and vision for ICICI Bank. It signifies a commitment to his continued stewardship of the bank.

About Sandeep Bakshi

Sandeep Bakhshi has been leading ICICI Bank since October 15, 2018, following his role as full-time director and Chief Operating Officer (COO). With an impressive tenure spanning 36 years within the ICICI Group, Bakhshi brings a wealth of experience and expertise to his position.

Throughout his career, he has made substantial contributions to various entities within the ICICI Group. It includes ICICI Limited, ICICI Lombard General Insurance, ICICI Bank, and ICICI Prudential Life Insurance.
As MD & CEO, Bakshi is responsible for the overall management of ICICI Bank.
He has focused on digital transformation and customer service and has also led the bank’s expansion into new markets.
Under Bakshi’s leadership, ICICI Bank has been ranked as one of the best banks in India by various publications.
He was awarded the “Best CEO in Banking” award by the Economic Times in 2020.
Increased the bank’s profitability, with net profit growing from ₹22,000 crore in 2018 to ₹30,000 crore in 2022.

His re-appointment not only ensures continuity in leadership but also underscores his deep-rooted association with the ICICI Group. It highlights his ability to effectively navigate the ever-evolving banking landscape, further solidifying his role as a key figure in the organization’s ongoing success.

Shubham Mittal

Shubham Mittal is a renowned current affairs writer and expert in government exam preparation, inspiring readers with insightful articles and guiding aspirants with his expertise.

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