Tuesday, June 25, 2024

Report on CEO & MD Sandeep Bakhshi wanting to quit is baseless: ICICI Bank

PUNJAB NEWS LINE | May 02, 2024 02:23 PM

NEW DELHI: ICICI Bank on Thursday denied a media report that its CEO and MD Sandeep Bakhshi wants to quit his position.

In a stock exchange filing, ICICI Bank said the report about Bakhshi wanting to be relieved as MD and CEO owing to a personal emergency is “baseless”.

"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.

Late last month, the country's second-largest private sector lender reported a 17.38 per cent increase in net profit to Rs 10,707 crore for Q4 FY24, compared to the corresponding figure of Rs 9,122 crore in the year-ago period.

ICICI Bank registered an 8 per cent increase in net interest income (NII) at Rs 19,093 crore for the January-March period, compared to Rs 17,667 crore reported in the same quarter in FY23.


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