Axis Bank gains after key managerial appointments

Axis Bank rose 1.21% to Rs 763.30 after the bank announced appointments of key personnel in two strategically important roles.

In an exchange filing made during market hours today, Axis Bank announced the appointment of Naveen Tahilyani as the group executive - head banking operations and transformation, effective 6 January 2020. Tahilyani will lead operations, technology, strategy and analytics (BIU).

Additionally, the board of directors of the bank approved the appointment of Amit Talgeri as the chief risk officer (CRO) of the bank, for a period of three years, with effect from 1 January 2020. Cyril Anand, the incumbent CRO will retire from the services of the bank, with effect from close of business hours today, 31 December 2019.

Both, Naveen Tahilyani and Amit Talgeri shall report to Amitabh Chaudhry, managing director & CEO of the bank.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering large and mid-corporates, SME, agriculture and retail businesses.

The bank reported a net loss of Rs 112.08 crore in Q2 September 2019 compared with a net profit of Rs 789.61 crore in Q2 September 2018. Total income rose 21.14% to Rs 19,333.57 crore in Q2 September 2019 over Q2 September 2018.

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