Anup Bagchi to head HDFC Bank from Oct 27

Anup Bagchi, with over 30 years of experience in banking and financial services, has been appointed as the new MD and CEO of HDFC Bank. He previously held senior roles at ICICI Group, including CEO of ICICI Prudential Life Insurance and Executive Director at ICICI Bank. Bagchi's leadership at ICICI Bank included growing retail mortgage loans and managing operations during demonetization.

HDFC Bank has named Anup Bagchi as its new MD & CEO, approved by the RBI, to succeed Sashidhar Jagdishan from October 27. Bagchi, previously with ICICI Bank, faces challenges like increasing core income and addressing governance issues. HDFC Bank's ADRs rose over 5% following the announcement.

HDFC Bank selected Anup Bagchi as its next CEO, leading to a 5% rise in its ADRs. Bagchi's experience at ICICI Bank and an insurer may aid governance and regulator relations. The Reserve Bank of India's approval is pending, which will impact investor sentiment.

Anup Bagchi, 56, will become HDFC Bank's CEO on October 26, 2026, succeeding Sashidhar Jagdishan. Bagchi has over 30 years of experience in banking, insurance, and financial services, including roles at ICICI Bank and ICICI Prudential Life Insurance. At ICICI Bank, he led retail and wholesale banking, growing the retail mortgage portfolio to over ₹2 trillion. At ICICI Prudential, he drove significant growth in annualized premium equivalent and profits.

HDFC Bank, India's largest private lender, announced Anup Bagchi as its new CEO for a three-year term, following approval from the country's central bank. Bagchi will succeed Sashidhar Jagdishan, whose term ends October 26. He currently leads ICICI Prudential Life Insurance and previously held senior roles at ICICI Bank. India's banking regulations mandate banks to propose at least two CEO candidates to regulators.

HDFC Bank has appointed Anup Bagchi as its next CEO for a three-year term, subject to RBI approval. The bank announced this in a stock exchange filing on October 1.