Page 45 - Axis Bank

Challenging times ahead for Axis Bank's new MD and CEO Amitabh Chaudhry

The new CEO will need to review the bank's processes to keep the loan book healthy. He was MD & CEO at HDFC Life Insurance

HDFC Life's Amitabh Chaudhry appointed as CEO & MD of Axis Bank

Chaudhry will replace outgoing MD & CEO Shikha Sharma whose term ends on December 31

Axis Bank appoints Amitabh Chaudhry as MD & CEO, to take charge from Jan 1

Axis Bank said Saturday Amitabh Chaudhry has been appointed its Managing Director & CEO from January 1, 2019 for a period of three years. Chaudhry, the MD & CEO of HDFC Standard Life Insurance Company at present, will take the charge at India's third largest private sector bank after incumbent Shikha Sharma steps down on December 31, 2018. "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 three years, with effect from I" January 2019 up to 31" December 2021 (both days inclusive)," Axis Bank said in a filing to the BSE. Chaudhry, 54, has been associated with HDFC Life since January 2010. "I would like to thank the RBI and the Axis Bank Board for the privilege and honour given to me to lead this great institution," Chaudhry said. In April, Axis Bank board had curtailed the fourth term of its

Axis Bank sees further recovery after less-than-expected profit drop in Q1

In the June quarter, Axis Bank saw a 74 per cent fall in incremental bad loans to Rs 43.37 billion, compared with the March quarter

Axis Bank Q1 net profit dips 46% to Rs 7 billion, stock falls 2.67%

It, however, improved on a sequential basis, with GNPAs down 25 basis points from the March quarter of 2017-18

Axis Bank Q1 profit plunges 46% to Rs 7 billion as bad loans rise

Gross non-performing loans as a percentage of total loans fell to 6.52 per cent at end-June, compared with 6.77 per cent three months earlier

Axis Bank recommends three candidates to succeed CEO Shikha Sharma

ICICI Bank is also grappling with management shuffling with Chanda Koccha

Axis Bank CEO Shikha Sharma's basic pay hiked 7.8% to Rs 29 mn in FY18

Gross salary of the chief executive came in at Rs 48.8 million for the 2017-18 fiscal. Additionally, there were 5,40,000 stock options in her portfolio during the year

Axis Bank: Sub-investment grade assets may keep bad loans elevated

Sub-investment grade assets may keep bad loans elevated

Axis Bank ratings unaffected by sharp rise in non-performing assets: S&P

The sharp rise in bad loans is part of a balance sheet clean-up exercise underway in the Indian banking system, the agency said in its report

Axis Bank board okays merger of subsidiaries Accelyst with Freecharge

Accelyst is engaged in the business of owning and operating a web and mobile-based platform for providing and facilitating online recharge, bill payment, coupon services

Axis Bank board clears higher borrowing limit of Rs 2 trillion

The board also authorised Axis Bank to borrow/ raise funds in Indian currency/foreign currency by issue of debt instruments up to an amount of Rs 35,000 crore

Axis Bank rises 5% despite weak Q4 results

The stock was up 5% to Rs 522 on expectation of sustained ROA expansion over the next 24 months to drive a multiple expansion as asset quality distractions recede.

Axis Bank posts first quarterly loss since listing in 1998 at Rs 21.89 bn

Gross bad loans as a percentage of total loans rose to 6.77% at end-March

Axis Bank commences process to select CEO Shikha Sharma's successor

Private sector lender Axis Bank today said it has started the process to select a new Managing Director & CEO as the incumbent Shikha Sharma is scheduled to demit office in December. Earlier this month, Sharma had requested the Board that she may be relived in December. The bank had earlier given her a new three-term beginning June 1. "This is to inform you that the Board of Directors of the Bank has commenced the succession process to appoint a new Managing Director & CEO of the Bank," Axis Bank said in a regulatory filing. The Board has appointed Egon Zehnder, a global leadership advisory firm, to conduct the succession process and evaluate candidates for the said post. The bank further said the Board will ensure that the process will be completed before the end of Sharma's tenure and "thus facilitate smooth transition of leadership responsibilities at the bank". In December last year, the bank had said the Board had decided to reappoint Sharma as the Managing Director and ..

Axis Bank sells part of Echanda Urja loans to IREDA, Central Bank

With this, Axis Bank has reduced its exposure in Echanda Urja by Rs 2 billion to below Rs 3 billion

Axis Bank up 6% in two days as board cuts short CEO Shikha Sharma's tenure

The stock was up 2.4% at Rs 531 on Tuesday in early morning trade, extending its Monday's 3.4% gain on the BSE

Axis Bank board cuts short CEO's tenure, Shikha Sharma to stay on till Dec

Sharma joined Axis Bank in 2009 after heading ICICI Prudential Life Insurance; move comes after RBI's objection to fresh term

Reserve Bank of India drops Axis Bank from list of bullion importers

Bank of Baroda, HDFC Bank and Bank of Nova Scotia were among the 16 banks allowed to import bullion

Axis Bank customers with balance of Rs 100 mn and above to get 6% interest

New rate will be effective March 19