The Reserve Bank of India (RBI) has approved the re-appointment of Amitabh Chaudhry as the managing director and CEO of Axis Bank for three years beginning January 1, 2025.

In April this year, the board of the private sector lender had approved his re-appointment with effect from January 1, 2025 up to December 31, 2027.

This was subject to the approval of the RBI and its shareholders. The shareholders had approved the re-appointment at its AGM on July 26, 2024.

The shares of the private sector bank earlier settled at ₹1,167.95, a gain of 0.65 per cent on the BSE.

Chaudhry joined Axis Bank as its MD & CEO on January 1, 2019. Before joining the bank, he was with HDFC Life for nine years.

Prior to HDFC Life, he was the MD & CEO of Infosys BPO and head of the testing unit of Infosys Technologies Ltd.

Chaudhry started his career with Bank of America in 1987.

During his tenure, Axis Bank acquired Citi India’s consumer facing business for ₹11,603 crore.

Axis Bank had reported an 18 per cent growth in net profit to ₹6,918 crore for the second quarter ended September 2024. It had logged in a net profit of ₹5,864 crore in the same quarter a year ago.

During the period, the total income of the bank increased to ₹37,142 crore against ₹31,660 crore in the same period last year.