Amitabh Chaudhry Re-appointed as Axis Bank CEO till 2027- The Reserve Bank of India (RBI) has approved the re-appointment of Amitabh Chaudhry as the Managing Director (MD) & Chief Executive Officer (CEO) of Axis Bank for three more years. His new term will start on January 1, 2025, and end on December 31, 2027. The shareholders of Axis Bank had earlier endorsed his re-appointment at the 30th Annual General Meeting in July 2024, and the RBI granted its final approval on October 24, 2024.
Amitabh Chaudhry Re- appointed as Axis Bank CEO Key Highlights
- Re-Appointment Confirmation: RBI has officially approved Amitabh Chaudhry’s re-appointment, securing his leadership at Axis Bank for another three years.
- Shareholder Support: Shareholders voted in favor of Chaudhry’s re-appointment during the bank’s 30th Annual General Meeting (AGM) held in July 2024.
- Effective Period: The new term will be effective from January 1, 2025, to December 31, 2027.
- Positive Market Response: Axis Bank’s shares have seen a positive trend, trading at Rs 1,177.90, reflecting confidence in Chaudhry’s continued leadership.
Role and Achievements of Amitabh Chaudhry
- Leadership Since 2019: Amitabh Chaudhry has been leading Axis Bank as MD & CEO since January 1, 2019, after a successful nine-year tenure at HDFC Life.
- Strong Growth Strategy: Under his leadership, Axis Bank has enhanced its retail banking services, improved digital capabilities, and strengthened its market position.
- Financial Performance: In the September 2024 quarter, Axis Bank reported an 18% increase in net profit, reaching Rs 6,917.57 crore. Net interest income also rose by nearly 10% to Rs 13,533 crore, driven by strong credit demand.
Amitabh Chaudhry’s Career Background
Amitabh Chaudhry holds an engineering degree from Birla Institute of Technology and Science, Pilani, and a postgraduate degree in Business Management from IIM Ahmedabad. He started his career with Bank of America, holding various roles in technology investment banking, finance, and wholesale banking. He later worked with Credit Lyonnais Securities and Infosys, before joining HDFC Life and eventually Axis Bank.
Axis Bank Stock Performance
As of the latest update, Axis Bank shares have seen an upward trend:
| Date | Stock Price (Rs) | Change (%) |
| October 24, 2024 | 1,177.90 | +0.85% |
| October 25, 2024 | 1,189.35 | +1.88% |
Amitabh Chaudhry Re-Appointed as Axis Bank CEO
- RBI Approval: RBI has approved the re-appointment of Amitabh Chaudhry as Axis Bank CEO for three more years.
- Term Duration: The new term will be effective from January 1, 2025, to December 31, 2027.
- Leadership Continuity: Chaudhry has been leading the bank since 2019, driving growth and digital transformation.
- Strong Financials: Axis Bank recorded an 18% rise in net profit for the September 2024 quarter.
Positive Market Reaction: Axis Bank shares have responded positively, showing an upward trend.
Also Read Latest Current Affairs 2024
Amitabh Chaudhry is the current Managing Director and CEO of Axis Bank, and his re-appointment has been approved for three more years.
His new term will begin on January 1, 2025, and continue until December 31, 2027.
Axis Bank reported an 18% year-on-year increase in net profit for the September 2024 quarter, along with a rise in net interest income.
The RBI approved the re-appointment of Amitabh Chaudhry as MD & CEO of Axis Bank for another term, starting January 2025.
Shareholders showed support by approving his re-appointment at the 30th Annual General Meeting in July 2024.
Before joining Axis Bank, Chaudhry worked at HDFC Life, Infosys, Credit Lyonnais Securities, and Bank of America in various leadership roles.
Axis Bank’s shares have seen a positive trend, reflecting market confidence in Chaudhry’s leadership.
