Sashidhar Jagdishan re-appointed as HDFC Bank MD & CEO for next three years

The Reserve Bank of India (RBI) approved the re-appointment of Sashidhar Jagdishan as the managing director (MD) and chief executive officer (CEO) of HDFC Bank for three years starting from October 27, 2023, the bank informed the exchanges on Tuesday.

In March 2023, HDFC Bank board had recommended the re-appointment of Jagdishan for a period of three years.

Jagdishan took charge as the MD & CEO of the largest private-sector lender in October 2020, after Aditya Puri retired.

In the financial year 2022-23, the net profit of the bank increased by 19.3 per cent year-on-year to Rs 44,108.7 crore. Net interest income (NII) rose by 20.6 per cent to Rs 86,842.2 crore. The asset quality saw an improvement, with the gross non-performing assets (GNPA) ratio moderating to 1.12 per cent from 1.17 per cent in the year-ago period.

Jagdishan, who has an overall experience of 31 years in the industry, joined the bank in 1996 as a manager in the finance function. He is a chartered accountant by profession and holds a Master’s degree in Economics of Money, Banking & Finance from the University of Sheffield, United Kingdom.

Prior to his appointment as MD & CEO, he served as the group head of the bank, in addition to overseeing the functions of finance, human resources, legal & secretarial, administration, among others.