The speculation surrounding Sandeep Bakhshi’s continuation as ICICI Bank’s CEO has finally been resolved. On Saturday, the bank’s Board of Directors unanimously approved his re-appointment as MD & CEO for two more years, from October 4, 2026, to October 3, 2028. This will be his third term since 2021, but the appointment still needs approval from the Reserve Bank of India (RBI), shareholders, and any other required authorities.
ICICI Bank’s Executive Director, Sandeep Batra, stated that the board discussed the matter with Sandeep Bakhshi and decided that a two-year term would be suitable. Technically, this term will span nearly three years, beginning in October 2026 and concluding in October 2028.
Who is Sandeep Bakhshi?
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Sandeep Bakhshi is a senior executive in the Indian banking sector. He has been associated with the ICICI Group (the parent organization of ICICI Bank) since 1996, which means he has more than two decades of experience within the same financial institution. This indicates deep knowledge of the bank’s operations, culture, and strategy.
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Being a veteran of the ICICI Group since 1996 shows that he has over 25 years of experience in various roles within the organization.
- He was appointed as Managing Director (MD) and Chief Executive Officer (CEO) of ICICI Bank in October 2018. As MD and CEO, he is responsible for the overall management, strategy, and performance of the bank.
- Before becoming MD & CEO, he was Chief Operating Officer (COO) and a Whole-time Director at ICICI Bank.
- This kind of long-term internal experience is often valued in large banks because it ensures the CEO understands the bank’s risk culture, customer base, and strategic priorities.
Rules about CEO appointments in private banks:
RBI rules say that someone cannot serve as MD & CEO of the same bank for more than 15 years in a row. After that, they can be reappointed only if the board believes it’s needed, there’s a break of at least 3 years, and they are under 70 years old. By the time Bakhshi’s current term ends, he will be around 68.
The ICICI Bank board has also decided to reappoint Ajay Kumar Gupta for another two years, from November 27, 2026, to November 26, 2028. However, this appointment too needs approval from the Reserve Bank of India (RBI) and the bank’s shareholders before it becomes official.
