The second-largest private sector bank of India, ICICI Bank, on Thursday, denied the reports of its MD & CEO Sandeep Bakhshi wanting to quit his current position.
Calling the report published by The Morning Context as ‘baseless’ and a ‘figment of imagination’, the lender categorically denied the information published in the article in a regulatory filing on 2 May, 2024.
The report had made claims that Bakhshi wanted to be relieved from his designation due to a personal emergency, however, the Reserve Bank of India (RBI) was against him stepping down.
“We would like to categorically deny the information published in the article regarding ICICI Bank’s MD allegedly expressing willingness to leave his position for personal reasons. This information is a figment of imagination and therefore, completely baseless and misleading,” the bank’s statement read.
It appears that this rumour is being spread with an ulterior motive and malicious intent in order to harm the Bank and its stakeholders, it added.
Last week, the lender reported strong Q4 earnings resulting in a record high surge in its share price with its market capitalization surpassing Rs 8 lakh crore for the first time.
ICICI Bank reported a standalone net profit of Rs 10,707.5 crore in Q4FY24, a rise of 17.4% from Rs 9,121.9 crore in the corresponding period last year. It posted 8% YoY growth in the net interest income (NII) to Rs 19,092.8 crore from Rs 17,666.8 crore.
