Saturday, May 28, 2022

Learn how Sandeep Bakshi, MD and CEO of ICICI Bank, India’s best CEO, quietly turnaround ICICI Bank

Sandeep Bakshi: ICICI Bank faced a crisis when Sandeep Bakshi took over as the MD-CEO of ICICI Bank. People had lost faith in the bank, investors were worried. The problems of corporate governance were paramount. The then CEO Chanda Kochhar was directly accused. Then in October 2018, the command of ICICI Bank was handed over to Sandeep Bakshi. And in the last three and a half years, they have not only brought back the lost credit of ICICI Bank, but also taken the banks to the top in all aspects of financial performance. Today, ICICI Bank is the second largest private bank in the country, which is very strong financially and has sufficient capital.

ICICI Bank is the second largest bank in the country
Sandeep Bakshi worked to boost the morale of the people working in ICICI Bank. Its effect was also seen. At the end of the 2021-22 financial year, the bank’s net profit has increased from Rs 20,220 crore to Rs 25,784 crore. The total NPA has come down from Rs 42,702 crore to Rs 34,551 crore. His term has been extended to October 2022.

Revival of ICICI Bank
Turnover of ICICI Bank was not an easy task but Sandeep Bakshi’s old experience of working with the group was very effective. Sandeep Bakshi has twice been the savior of ICICI Bank. The first was in 2008, when the global financial crisis plunged the entire world into recession. Then in 2018 when he was given the command of ICICI Bank. Sandeep Bakshi carried out his work very calmly and under his leadership ICICI Bank is climbing the ladder of success.

With ICICI Group since 1986
Sandeep Bakshi has been associated with ICICI Group since 1986. He became MD and CEO of ICICI Lombard General Insurance in April 2002, then at ICICI Prudential Life Insurance (ICICI-Prudential Life Insurance) from August 2010 to June 2018.

Where did you get your education
Sandeep Bakshi was born on May 28, 1960. Bakshi, 62, graduated from Punjab Engineering College, Chandigarh with a degree in Mechanical Engineering. He later studied management at XLRI – Xavier School of Management, Jamshedpur.

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