ICICI Bank rubbishes reports about stepping down of CEO Sandeep Bakhshi

ICICI Bank added that this information is a “figment of imagination” and therefore “completely baseless and misleading.”

A media story claiming that ICICI Bank’s MD and CEO, Sandeep Bakhshi, wishes to resign was refuted by the bank on Thursday.

Bakhshi’s request to be relieved of his duties as MD and CEO due to a personal emergency was described as “baseless” by ICICI Bank in a stock exchange filing.

“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 said in its filing.

ICICI Bank added that this information is a “figment of imagination” and therefore “completely baseless 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 filing read.

The nation’s second-largest private sector lender revealed late last month that its Q4 FY24 net profit increased by 17.38% to Rs 10,707 crore from the same time the previous year, when it was Rs 9,122 crore.

ICICI Bank’s net interest income (NII) increased by 8% to Rs 19,093 crore during the January-March quarter from Rs 17,667 crore during the corresponding period in FY23.

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