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ICICI Bank Confirms Strong Succession Pipeline After Anup Bagchi Exit
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Moneycontrol•17-10-2026, 17:28
ICICI Bank Confirms Strong Succession Pipeline After Anup Bagchi Exit
- •ICICI Bank executive director Sandeep Batra stated that the bank possesses a robust internal talent pipeline and is comfortable with its succession bench following Anup Bagchi's departure to HDFC Bank.
- •Batra expects two more repo rate hikes, noting that lending rates adjust faster due to a repo-linked loan book while deposit rates depend on liquidity and market competition.
- •ICICI Bank successfully mobilised around $18 billion through FCNR(B) deposits, significantly exceeding its initial internal expectations across global branches.
- •Net interest margins are expected to face marginal pressure in the third quarter due to FCNR(B) deposits before recovering in subsequent quarters.
- •The bank's credit card portfolio moderation reflects a strategic focus on profitable growth and exiting riskier segments rather than underlying credit issues.
Key Questions Answered
Anup Bagchi will take charge as HDFC Bank's Managing Director and Chief Executive Officer on October 27, 2026, for a three-year term.
ICICI Bank mobilised around $18 billion through foreign currency non-resident bank (FCNR(B)) deposits under the Reserve Bank of India's special scheme, which exceeded its initial expectations.
ICICI Bank expects a marginal decline in net interest margins during the third quarter as the full impact of FCNR(B) deposits is reflected, with margins expected to recover thereafter.
