Axis Bank board approves re-appointment of Amitabh Chaudhry as MD & CEO
NEW DELHI: Private sector lender Axis Bank on Thursday said its board has approved the re-appointment of Amitabh Chaudhry as its Managing Director and CEO for three years with effect from January 1, 2022. “The board of directors of the bank.. considered and approved the proposal relating to re-appointment of Amitabh Chaudhry as the Managing […]
Axis Bank Q4 net loss at Rs 1,388 crore
NEW DELHI: Axis Bank on Tuesday reported a standalone net loss of Rs 1,387.78 crore for March quarter of 2019-20 as provisioning for bad loans and contingencies soared. The private sector lender had reported a net profit of Rs 1,505.06 crore in the same quarter of the previous financial year. Income during the latest quarter […]
Maharashtra government closes account in Axis Bank
NEW DELHI: The Maharashtra government on Wednesday closed one of its accounts in Axis Bank and shifted it to the state-run SBI. The National Cyclone Risk Mitigation Projects bank account was in Axis Bank and it is now being shifted to SBI, said a GR (government resolution) issued here. The decision by the Shiv Sena-led […]
Axis Bank more than doubles loan provisions for NPAs in troubled sectors
NEW DELHI: Third largest private sector lender Axis Bank is setting aside more capital, more than twice over the regulatory requirements, for loans in sectors it has identified as “stressed”, a senior official has said. The bank is maintaining a standard asset provisioning of 1 percentage point for bad loans in such sectors, as against […]
Axis Bank appoints Amitabh Chaudhry as MD & CEO
NEW DELHI: Private sector lender Axis Bank on Saturday appointed Amitabh Chaudhry as Managing Director & CEO from January 1, after incumbent Shikha Sharma steps down at the end of this year. Chaudhry, currently the MD & CEO of HDFC Standard Life Insurance Company, has been appointed as MD and CEO for a period of […]