INSUBCONTINENT EXCLUSIVE:
Chaudhry, 54, has been associated with HDFC Life since January 2010.New Delhi: The country's third largest private sector lender Axis Bank
Saturday appointed Amitabh Chaudhry as Managing Director CEO from January 1, after incumbent Shikha Sharma steps down at the end of this
Chaudhry, currently the MD CEO of HDFC Standard Life Insurance Company, has been appointed as MD and CEO for a period of 3 years, with
effect from January 1, 2019 up to December 31, 2021
"The Board of Directors of the bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to
the appointment of Amitabh Chaudhry as the Managing Director CEO of the Bank, for a period of 3 years, with effect from January 1, 2019 up
demits office on December 31, 2018
The bank had selected three candidates to succeed Sharma at its board meeting held in July and had recommended their names for the approval
Axis Bank is among the leading private sector banks in the country
Together, with the support of the Board and the Axis team, I am confident of continuing the bank's remarkable journey these past 25 years
Chaudhry started his career in the Corporate Banking with Bank of America in 1987, where he worked in diverse roles.In July 2017, the board
of Axis Bank had approved re-appointment of Sharma, to be her fourth term as MD CEO begun from June 2018
However in April this year, Sharma had wanted her new term to be reduced to seven months from a three-year tenure without citing reasons,
decision to re-appoint Sharma as its CEO for the fourth term amid concerns over rising bad loans on the bank's books
my journey with a deep sense of satisfaction and pride
I have particularly enjoyed the opportunity to work with the Axis team in leveraging the myriad opportunities in the financial sector over
Bank Chairman Sanjiv Misra said, "After an extensive search, my fellow directors and I are pleased to welcome Amitabh as the Bank's MD
Amitabh has a proven track record and is well-equipped to lead Axis Bank in pursuing its growth ambitions balanced with a strong
Tech in (Electronic Electricals) from the Birla Institute of Technology Science, Pilani and is an alumnus of lndian Institute of
fiscal due to increase in provisioning for bad loans
non-performing assets (NPAs) rose to 6.52 per cent as on June 30 this year, from 5.03 per cent on June 30, 2017
