Axis Bank has reappointed Amitabh Chaudhry as the Managing Director and CEO for an additional three years, effective from January 1, 2025, until December 31, 2027.
This reappointment was contingent upon approval from the Reserve Bank of India. Shareholders of Axis Bank approved the decision during the 30th Annual General Meeting held on July 26 of this year.
In an exchange filing on October 24, Axis Bank announced, “We are pleased to inform you that the Reserve Bank of India has sanctioned the reappointment of Amitabh Chaudhry as the Managing Director & CEO of the Bank for a period of three years, from January 1, 2025, to December 31, 2027 (both dates included).”
Chaudhry joined Axis Bank in 2019 after more than nine years at HDFC Life and has played a crucial role in the bank’s growth. Under his leadership, Axis Bank has enhanced its retail banking and digital capabilities, significantly strengthening its market position.
Over the past five years at Axis, Chaudhry has initiated several transformative projects, from overhauling technology platforms to innovating the process of acquiring new business. Notably, under his direction, Axis Bank acquired Citibank’s retail operations in India in 2023, marking a significant milestone for the bank’s activities in the country.
Senior Level Departure
In a separate development, Ganesh Sankaran, Group Executive, Wholesale Banking Coverage Group at Axis Bank, resigned from his position on October 23, with November 30 set as his final working day.
Sankaran noted that the wholesale banking unit has emerged as one of the high-performance segments within the bank, achieving considerable market share growth and maintaining strong asset quality.