In a significant development, ICICI Bank, the country’s second-largest private sector bank, has announced that it 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 comes as a crucial step in ensuring the stability and leadership continuity of the bank.
As per the exchange filing made on September 11, the RBI has approved Sandeep Bakhshi’s re-appointment as MD and CEO of ICICI Bank with effect from October 4, 2023, extending his term until October 3, 2026. This three-year extension reflects the confidence of both the board of directors and the RBI in Mr. Bakhshi’s leadership and vision.
A Seasoned Leader with a Strong Track Record
Sandeep Bakhshi has been at the helm of ICICI Bank since October 15, 2018, prior to which he held the position of Whole-time Director and Chief Operating Officer (COO). With an impressive 36-year tenure within the ICICI Group, Bakhshi brings a wealth of experience to his role. He has contributed significantly to various aspects of the ICICI Group, including ICICI Limited, ICICI Lombard General Insurance, ICICI Bank, and ICICI Prudential Life Insurance.
This re-appointment not only ensures continuity in leadership but also underscores Sandeep Bakhshi’s deep-rooted association with the ICICI Group and his ability to navigate the dynamic banking landscape effectively.