HDFC Bank's New CEO: Anup Bagchi Takes Charge As MD And CEO (File Image)
\n\nCountry's largest private sector lender HDFC Bank on Tuesday said that Anup Bagchi has taken charge as its Managing Director and CEO. His predecessor, Sashidhar Jagdishan, vacated office on Monday after the completion of his term, the bank informed exchanges.
\n\nBagchi, an ICICI Group veteran, is the first outsider to head HDFC Bank in its over-three-decade history. His previous assignment was as the MD and CEO of ICICI Prudential Life Insurance. He joins HDFC Bank at a time when the lender is battling a slew of challenges, including ones on core income growth and margins, which have made investors wary.
\n\nIn brief comments on an earnings call which he attended, Bagchi said a part of the work on the bank's 2023 merger with housing finance major parent HDFC is yet to be executed and also announced that he will be meeting all the stakeholders understand the current situation at the bank. Bagchi had also appreciated the strong and committed leadership at HDFC Bank, amid speculation over whether he continues with the same team or gets new people.
\n\nAhead of his joining, Kaizad Bharucha, a HDFC Bank…
Original source: https://www.timesnownews.com/business-economy
