New Delhi: ICICI Bank has refuted claims made in a report by The Morning Context regarding its MD and CEO Sandeep Bakhshi expressing a desire to resign from his position due to personal reasons. The bank labeled the report as “baseless” and “a figment of imagination,” emphasizing that Bakhshi has not indicated any intention to step down. The bank further stated that the rumor appears to be spread with malicious intent to harm the institution and its stakeholders.
Last week, ICICI Bank reported robust earnings for the fourth quarter of FY24, with its share price reaching record highs and its market capitalization exceeding ₹8 lakh crore for the first time. The bank posted a standalone net profit of ₹10,707.5 crore, marking a 17.4% increase from the same period last year, and achieved notable growth in net interest income (NII).
Meanwhile, Kotak Mahindra Bank witnessed a decline in its share price following the immediate resignation of its joint managing director, KVS Manian, after 29 years of service. Analysts view the departure of Manian, along with other key managerial personnel exits over the past year, as a negative development, particularly in light of RBI’s recent restrictions on Kotak Bank.
