RBI clears Sandeep Bakhshi’s reappointment as ICICI Bank CEO till 2028

The Reserve Bank of India (RBI) has approved the reappointment of Sandeep Bakhshi as Managing Director and Chief Executive Officer of ICICI Bank for another two-year term. The move extends Bakhshi’s leadership at India’s second-largest private sector bank by market capitalisation and provides continuity at a time when the lender continues to report strong financial performance.

According to ICICI Bank, Bakhshi’s fresh term will begin on October 4, 2026, and continue till October 3, 2028. The regulatory approval follows the bank board’s unanimous decision in January this year to extend his tenure, subject to RBI approval, shareholder consent and other necessary clearances.

In a regulatory filing, ICICI Bank said the board had approved Bakhshi’s reappointment for an additional term and that the central bank has now formally cleared the extension. The lender also stated that shareholder approval for the appointment will be sought in due course.

“This is further to our letter dated January 17, 2026 intimating the Board’s unanimous approval for the re-appointment of Mr. Sandeep Bakhshi (DIN: 00109206) as Managing Director & CEO of the Bank for a further period of two years with effect from October 4, 2026 to October 3, 2028, subject to approval of Reserve Bank of India (RBI), shareholders, and such other approvals as may be required,” the bank said.

The bank added: “RBI has, vide its letter dated May 22, 2026, approved the re-appointment of Mr. Sandeep Bakhshi for a period of two years from October 4, 2026. The approval of the shareholders will be sought in due course of time.”

Bakhshi has been leading ICICI Bank since 2018 and has overseen a significant transformation phase for the lender. Under his leadership, the bank strengthened its retail loan franchise, improved asset quality and expanded digital banking operations.

The extension also comes against the backdrop of healthy financial performance. Last month, ICICI Bank reported a standalone net profit of Rs 13,702 crore for the quarter ended March 31, compared with Rs 12,630 crore in the corresponding period a year ago, reflecting continued earnings momentum.

Market participants often view leadership continuity as a positive factor, particularly for large financial institutions where strategy execution and long-term growth planning remain critical. The RBI approval removes uncertainty around succession at one of India's largest private lenders and signals confidence in the bank’s current leadership framework.

ICICI Bank remains a key player in India’s banking sector, with a broad presence across retail, corporate and digital banking segments. Analysts will now closely monitor the bank’s future growth strategy and operational performance during Bakhshi’s extended term.

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