Private sector lender ICICI Bank on Monday (September 11) said the Reserve Bank of India (RBI) has given its approval for the reappointment of Sandeep Bakhshi as managing director and chief executive officer of the bank.

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Bakhshi has been reappointed for a period of three years, from October 4, 2023, to October 3, 2026, the bank said in a regulatory filing.

"At the Annual General Meeting held on August 30, 2023, the shareholders had already approved the appointment of Bakhshi for the abovementioned period," the bank said.

Back in 2022, ICICI Bank's board of directors had reappointed Sandeep Bakshi as the managing director and CEO for a period of three years, starting from October 4, 2023, to October 3, 2026.

Bakhshi had joined the ICICI Group on December 1, 1986, in the project financing division and was responsible for wholesale banking and small and medium enterprises business.

He was appointed managing director & CEO of ICICI Lombard General Insurance Company in April 2002 and was instrumental in scaling up the private sector general insurance offerings in the country.

Shares of ICICI Bank Ltd ended at Rs 978.35, up by Rs 7.80, or 0.80 percent, on the BSE.

First Published:Sept 11, 2023 7:20 PM IST