Axis Bank has re-appointed Amitabh Chaudhry as the MD and CEO of the bank for another three years with effect from January 2025, up to December 31, 2027.
The re-appointment was subject to the approval of the Reserve Bank of India. Shareholders of Axis Bank had approved the decision at the 30th Annual General Meeting on July 26 this year.
"We now wish to inform you that the Reserve Bank of India has approved the re-appointment of Amitabh Chaudhry as the Managing Director & CEO of the Bank, for a period of three years w.e.f. January 1, 2025 till December 31, 2027 (both days inclusive)," Axis Bank said in an exchange filing on October 24.
Chaudhry took up the role at Axis Bank in 2019 after an over nine-year stint with HDFC Life, and has been instrumental in the bank's growth trajectory. Under his leadership, Axis Bank has expanded its retail banking and digital capabilities, and improved its market position.
In the past five years at Axis, Chaudhry launched several initiatives, from transforming the tech platforms to changing the way fresh business is acquired. Under Chaudhry’s watch, Axis Bank also acquired Citibank’s retail business in India in 2023, in what could be termed as a landmark deal for the bank’s operations in the country.
Senior Level Exit
In another development, Ganesh Sankaran, Group Executive – Wholesale Banking Coverage Group at Axis Bank has resigned from his role on October 23, and November 30 will be his last working day. Sankaran highlighted that the wholesale banking unit is one of the high performance businesses at the bank with significant gain in market share and robust asset quality.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
