ICICI Bank on January 17, 2026, announced that its board has approved the re-appointment of Managing Director and Chief Executive Officer Sandeep Bakhshi for a further 2 years. The extension will be effective from October 4, 2026, to October 3, 2028.
The decision was taken at the board meeting held on the same day and is subject to approvals from shareholders, the Reserve Bank of India and other statutory authorities, the bank said in an exchange filing.
Bakhshi was appointed MD and CEO of ICICI Bank in October 2018. His tenure was earlier extended until October 2026. As per the reports, he took charge following the exit of Chanda Kochhar, during a period when the bank was facing asset quality pressure and governance-related scrutiny.
Bakhshi has been associated with the ICICI Group since 1996 and has held senior positions across the group over nearly three decades.
Since 2018, the bank has adjusted its lending strategy, reducing exposure to large bulk corporate loans. Greater emphasis has been placed on retail, MSME and smaller corporate loans.
As of the third quarter of FY26, ICICI Bank’s gross non-performing assets declined to 1.5%, while net NPAs remained below 0.4%. These levels are lower than those seen before his appointment.
Return on assets improved to over 2% in recent years, compared with levels of under 0.5% earlier. The bank has also maintained a steady capital position during this period, according to disclosures. Credit growth has remained stable, supported by a diversified loan book and controlled credit costs.
For the quarter ended December 31, 2025, ICICI Bank reported a standalone net profit of ₹11,317.9 crore, down 4% from ₹11,792.4 crore a year earlier.
Net interest income rose 7.7% year-on-year to ₹21,932 crore, while net interest margin was 4.30%.
In the same meeting, the board approved a 2-year extension for Executive Director Ajay Kumar Gupta until November 26, 2028, subject to approvals.
Read More: ICICI Lombard Q3 FY26 Earnings Results: Net Profit Falls 9% To ₹658 Crore Despite Strong Premium Growth!
As of January 19, 2026, 9:51 am, ICICI Bank share price was trading at ₹1,373.90, a 2.62% down from the previous closing price.
The re-appointment ensures continuity in the bank’s top management through October 2028. The approval remains subject to clearance from regulators and shareholders, as outlined in the exchange filing.
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Published on: Jan 19, 2026, 12:04 PM IST
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