Sandeep Bakhshi has been CEO of ICICI financial institution since October 15, 2018.
When Sandeep Bakhshi took over because the CEO, ICICI Bank was in hassle after the controversial exit of Chanda Kochhar.
Sandeep Bakhshi, who took over because the Managing Director and CEO of ICICI financial institution on October 15, 2018, is one of the highest-paid bankers in India. When Bakshi was elevated to the highest publish of ICICI Bank, the non-public lender was in hassle. His predecessor Chanda Kochhar had resigned beneath allegations of cash laundering. When individuals’s religion in ICICI financial institution was wavering, Sandeep Bakhshi helped the financial institution restore its misplaced credibility.
Sandeep Bakhshi was born on May 28, 1960. He earned a mechanical engineering diploma from Chandigarh’s Punjab Engineering College. Following that, he did a post-graduation course in administration from Xavier School of Management (XLRI), Jamshedpur.
Bakhshi has been related to the ICICI group since 1986. He turned the MD and CEO of ICICI Lombard General Insurance in April 2002. After that, from August 2010 to June 2018, he additionally held the publish of MD and CEO of ICICI Prudential Life Insurance. Prior to his appointment as MD and CEO of ICICI Bank, he was a Wholetime Director and the Chief Operating Officer (COO) of the Bank.
When Bakhshi took over ICICI Bank in 2018, the share value of the financial institution on BSE was Rs 313.35 per piece. A day after Bakhshi’s elevation the shares closed at Rs 825 apiece on March 16, 2023. This was a sign that the traders had reposed religion within the administration of the financial institution.
Under the management of Sandeep Bakhshi, the market cap of ICICI Bank elevated to about Rs 5.74 lakh crore.
According to studies, his annual wage within the monetary yr 2022 was Rs 7.98 crore, which is roughly Rs 65 lakh per thirty days. Following the monetary disaster publish the COVID-19 pandemic, Sandeep Bakhshi reportedly didn’t draw any wage in 2021.
As per a Forbes India report, ICICI Bank witnessed a 77 per cent leap in core working revenue to Rs 10,600 crore as on December 31, 2021, which stood at Rs 5,667 crore within the third quarter of 2018 when Bakhshi took cost.
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