Here’s everything you need to know about Mr. Sandeep Bakhshi the current CEO and MD of ICICI BANK, his salary, net worth, his professional journey, Bio and more.
Sandeep Bakhshi is the MD & CEO of ICICI Bank, one of India’s largest private sector bank since October 2018.
ICICI provides a wide range of BFSI services. Its market capitalization was around 32.8 billion in May 2020.
Mr. Bakhshi has been a part of the ICICI Group of companies for over 30+ years and has successfully worked on various assignments across the group in companies such as ICICI Lombard General Insurance, ICICI Bank, and many more.
In the year 2018, the then MD and CEO of ICICI Bank, Chanda Kocchar, took an early leave, thereby paving a path for Mr. Sandeep Bakhshi to become the CEO of one of India’s largest private banks.
He became the MD and CEO of ICICI after the bank’s board accepted Ms. Kocchhar’s early exit who was being probed on charges of an alleged change of interests.
In his role as the MD & CEO, he is responsible for the business and corporate center functions of the bank.
Mr. Bakhshi has been a veteran with ICICI BANK.
In the past, Mr. Bakhshi has been the Deputy Managing Director at ICICI Bank Ltd., Chairman at ICICI Home Finance Co. Ltd., Managing Director & CEO at ICICI Prudential Life Insurance Company Ltd., CEO & MD at the ICICI Lombard General Insurance Co. Ltd and more.
As stated above, he has been with the ICICI group for over 30 years since 1986. He has seen ICICI evolve into what it is today from a mere financial institution.
Kamesh Goyal, Chairman at Digit Insurance said –
“He is close to the business and only one who knows corporate banking, retail banking, life insurance, and general insurance”
Mr. Bakhshi has also groomed several CEOs from the current generation of banking leaders like Mr. Ritesh Kumar, MD and CEO HDFC Ergo, Nilesh Garg, MD, and CEO Tata AIG General Insurance, to name a few.
Sandeep Bakhshi, MD and CEO of ICICI Bank in a conversation with ET said-
“Every day I believe that I am in ICICI because I need ICICI. ICICI can get 100 Sandeep Bakhshis, but for me, there is no better opportunity than ICICI”.
He did not hold the luxury of the new designation, as he took over the reins of ICICI Bank as their CEO during a period of crisis.
Investors believe that he will be responsible for resolving the bad loan problem, which has been plaguing ICICI bank for the last three fiscal years.
Mr. Sandeep Batra, President ICICI Bank told it is “profitability over the top line” for both Mr. Bakhshi and himself.
Both Mr. Sandeep Bakhshi and Mr. Sandeep Batra had moved to the ICICI BANK LTD from ICICI Prudential, a life insurance venture.
Mr. Sandeep Batra also added “We won’t do things that we don’t understand. We have become very particular about where we would be lending.”
Mr. Batra further added that they’ll be stopping project funding. “We are not going to project finance,” says Sandeep Batra, ICICI Bank. “That’s very clear. We are willing to lend wherever people are putting in equity,” he added.
Mr. Sandeep Bakhshi’s Professional Journey:
He grew up in a defense services family. Mr. Bakhshi is a Mechanical Engineer from the Punjab Engineering College, Chandigarh, and a post-graduate in Management Studies from the XLRI Jamshedpur Institute.
Sandeep Bakshi started his career at a computer marketing company called ORG Systems in the year 1983.
Mr. Bakhshi later joined the ICICI group in the year 1986 as part of the project finance division and was responsible for driving the wholesale banking and SME business.
He was later appointed as the CEO of ICICI Lombard General Insurance in the year 2002.
He also became the Deputy Managing Director and worked on ICICI Bank’s retail as well as Corporate Banking business in between the year 2009 and 2010.
Going ahead he was appointed as the MD & CEO of ICICI Prudential in the year 2010.
And later Mr. Bakhshi started working as a whole-time director and COO (Chief Operating Officer) with the ICICI BANK. The bank’s board appointed him as the CEO (Chief Executive Officer) of ICICI Bank after Ms. Chanda Kochhar’s exit.
How is Mr. Sandeep Bakhshi transforming ICICI BANK:
According to a Business Today article, Mr. Sandeep Bakhshi is playing a critical role in ICICI Bank’s transformation and a massive HR transformation is underway under his leadership towards an aim – the speed of delivery.
Sr. General Managers at the bank no longer sit on a different floor and in separate cabins but with their team members.
The bank, under the new MD and CEO Mr. Sandeep Bakhshi, is undergoing a massive transformation. The aim is “One Bank, One Team and One Goal” to ensure the speed of delivery.
“We have crashed layers so that the speed of response is faster,” says Srirang, Head of Human Resources at ICICI Bank. The bank is among the top five companies in Business Today’s Best Companies to Work For list.
More about Mr. Sandeep Bakhshi, ICICI bank – CEO:
Born in the 1958/1959 currently 62 years of age
According to an ET article, he loves wildlife and visits 5-6 wildlife sanctuaries a year.
In an interview with ET, he said, he likes to spend time outside of his normal life in jungles. He finds wildlife fascinating, especially watching predators such as foxes and jackals.
He is also a fan of vintage Bollywood songs, with SD Burman, OP Nayyar, and Madan Mohan being some of his preferred musicians.
“I do carry work home and home to work. I am not able to compartmentalize these two.
I am never able to take work or family out of my mind. Both these exist with me for 365 days,” Bakhshi was quoted by the financial daily as saying. Source
Sandeep Bakhshi’s Salary and net worth:
News about Indian banking CEO’s annual salary and net worth has been gaining a lot of chatter recently.
Mr. Aditya Puri, the MD of HDFC Bank, is the highest-paid Indian Banker who made around 89 Lakhs in FY19 as monthly salary.
Amitabh Chaudhary, CEO of Axis Bank, supposedly netted a monthly salary of 30 lakhs, followed by Uday Kotak with 27 lakhs and Mr. Sandeep Bakhshi’s monthly salary estimated to be 22 lakhs.
According to an ET article, these numbers do not contain perks and other privileges received by the CEO.
Referencing to an India TV article, Aditya Puri made around 18.92 crores as an annual salary.
And Mr. Bakhshi, CEO of ICICI Bank, becomes the second-highest-paid bank CEOs in India, estimated to have earned Rs. 6.31 crores in his first year as ICICI Bank’s new CEO.
While Sandeep Bakhshi was the COO he made Rs. 4.81 crores annually.
A Wikipedia about Mr. Sandeep Bakhshi:
A Wikipedia article about Mr. Sandeep Bakhshi can be found here
Sandeep Bakhshi Twitter & Linkedin:
We were not able to find a twitter profile of Mr. Sandeep Bakhshi. However, we did find some hashtags where people did talk about him. Click here to continue reading
We were not able to locate Mr. Sandeep Bakhshi’s Linkedin Profile.
Sandeep Bakhshi in video interviews:
Mr. Sandeep Bakhshi, MD & CEO, ICICI Prudential, speaking during the technical session in the year 2017 – Click here
Mr. Bakhshi in news:
Sandeep Bakhshi CEO, ICICI Bank|Board approves INR 150 billion equity capital raising for ICICI Bank. Click here to watch the video
Sandeep Bakhshi, CEO, ICICI Bank’s address to analysts | ICICI Bank Q1 results | Brokerage calls. Click here to watch the video
SANDEEP BAKHSHI CEO ICICI BANK का बड़ा बयान जानिए NEXT TARGET PRICE | ICICI BANK LATEST NEWS. Click here to watch the video
Sandeep Bakhshi, CEO ICICI Bank on Plans around Moratorium and COVID-19 Related Provisions. Click here to read the article
ICICI Bank executives and stock owners in ICICI BANK Ltd
Key ICICI Bank executives and other stock owners filed with the SEC include:
- Anup Bagchi, Executive Director
- Vishakha Mulye, Executive Director
- Rakesh Jha, Group Chief Financial Officer
- Sandeep Bakhshi, Chief Executive Officer, Managing Director, Executive Director
- Sandeep Batra, President
To name a few.
Mr. Sandeep Bakhshi belongs to the newer generation of banking leaders he is believed to lead ICICI BANK, India’s largest private sector bank to new heights.