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.

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

‘The question wasraised by Anand Swa-minathan, senior research analyst, BofA Securities, at ICICI Bank’sinvestor 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 isstilla yearto go, and the board will take a view and decide and disclosure will be made at the appropriate time”.

“Itreally depends on whether Bakhshi wants toserve one more termas 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 enjoysthe backing ofthe 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”