April 28, 2025 — Sandeep Bakhshi, the Managing Director and Chief Executive Officer (MD & CEO) of ICICI Bank, stands as one of the most influential leaders in India’s banking sector. With a career spanning nearly four decades at the ICICI Group, Bakhshi’s leadership has played a pivotal role in strengthening the bank’s position as India’s second-largest private sector bank. His tenure is marked by a focus on core banking operations, digital transformation, and robust risk management strategies.

Leadership Journey Across ICICI Group

Bakhshi’s journey with the ICICI Group began in 1986, and since then, he has held several critical roles across the group’s subsidiaries. An alumnus of Punjab Engineering College, Chandigarh, with a degree in mechanical engineering, and a postgraduate in management from XLRI – Xavier School of Management, Jamshedpur, Bakhshi brought a strong technical and managerial foundation to his career.

He rose through the ranks to become the MD & CEO of ICICI Lombard General Insurance Company in 2002, where he steered the business through a period of significant growth in India’s insurance sector. In 2010, he took over as the MD & CEO of ICICI Prudential Life Insurance, further demonstrating his leadership across varied segments of financial services. These experiences equipped him with a broad understanding of financial products, risk management, and customer engagement—skills that would later define his leadership at ICICI Bank.

Taking Charge at ICICI Bank Amid Leadership Transition

In June 2018, at a time of significant leadership transition, Bakhshi was appointed as the Chief Operating Officer (COO) of ICICI Bank. Within a few months, on October 15, 2018, he was elevated to the role of MD & CEO, succeeding Chanda Kochhar.

Bakhshi’s elevation came at a critical juncture for the bank. With investor confidence shaken amid controversies surrounding previous leadership, his steady approach and internal experience helped stabilize operations and rebuild trust. Under his leadership, ICICI Bank emphasized core banking strengths, digital innovation, asset quality management, and operational efficiency, setting the tone for a new phase of disciplined growth.

Focus on Digital Transformation and Risk Management

Throughout his tenure as MD & CEO, Bakhshi has focused on enhancing digital capabilities within ICICI Bank. Recognizing the changing landscape of financial services, he led initiatives to integrate advanced digital tools across banking operations. From retail banking to corporate lending, the bank embraced automation and data-driven decision-making, which significantly improved customer experience and operational resilience.

Additionally, Bakhshi has consistently prioritized risk management and governance frameworks, strengthening the bank’s balance sheet and ensuring sustainable profitability. His leadership approach balances growth aspirations with prudent financial discipline, positioning ICICI Bank as a resilient institution amid evolving market dynamics.

RBI Reappointment Reflects Confidence in Leadership

In recognition of his strategic leadership, the Reserve Bank of India (RBI) approved Bakhshi’s reappointment as MD & CEO for a three-year term, effective from October 4, 2023, to October 3, 2026. The reappointment is seen as a vote of confidence in his ability to lead the bank through India’s rapidly transforming banking environment.

This tenure extension allows Bakhshi to continue executing the bank’s long-term strategies, including expanding its digital footprint, growing retail and SME segments, and enhancing customer-centric innovations.

Commitment to Inclusive Growth

Beyond his role at ICICI Bank, Bakhshi also serves as a trustee of the ICICI Foundation for Inclusive Growth, demonstrating his commitment to corporate social responsibility. Through this platform, he supports initiatives focused on financial literacy, skill development, rural empowerment, and sustainable development—a reflection of his belief in inclusive and responsible banking.

Navigating Growth in a Competitive Landscape

Under Bakhshi’s leadership, ICICI Bank has not only stabilized after leadership transitions but also gained ground on key performance metrics. The bank has shown consistent improvement in profitability, net interest margins, and digital transaction volumes, competing strongly with private sector peers like HDFC Bank and Axis Bank.

Bakhshi’s approach of aligning technology with human capital and governance practices has helped ICICI Bank stay agile in a competitive sector increasingly defined by fintech disruptions and regulatory changes.

Conclusion

Sandeep Bakhshi’s steady leadership and in-depth experience across the ICICI Group have been instrumental in shaping the bank’s success story. His strategic focus on digital innovation, operational efficiency, and risk management continues to steer ICICI Bank on a growth trajectory while upholding its commitment to customer trust and financial integrity. As India’s banking sector evolves, Bakhshi remains at the helm, navigating opportunities and challenges with resilience and foresight.