Will ICICI Bank's CEO Bakhshi continue for another term?

Under RBI regulations, private bank chiefs can be at the helm for up to 15 years or till they turn 70

- Shayan Ghosh & Subhana Shaikh

ICICI Bank Ltd’s chief executive officer Sandeep Bakhshi’s tenure is up for renewal in about a year.

ICICI Bank Ltd's chief executive officer (CEO) Sandeep Bakhshi's tenure is up for renewal in about a year, and the market is looking for clarity on whether the man who pulled the lender out of a slump will get another term.

The question was raised by Anand Swaminathan, senior research analyst, BofA Securities, at ICICI Bank's investor call on 18 October. Swaminathan pressed Bakhshi for details on his “intention to continue for another term”. ICICI’s group CFO Anindya Banerjee responded that “there is still a year to go, and the board will take a view and decide and disclosure will be made at the appropriate time”.

“It really depends on whether Bakhshi wants to serve one more term as the CEO or not in our view...there could be personal considerations and aspirations at play here which we are not aware of,” Suresh Ganapathy, MD, head of financial services research at Macquarie Capital, said in an email to clients on 23 October.

On whether he enjoys the backing of the board and other stakeholders, Ganapathy said, “Bakhshi has full support for sure to be the CEO for another three years post October 2026 in our view”.