Axis Bank dismisses CEO resignation buzz

Axis Bank says the matter of CEO resignation is speculative and being circulated with the mala fide intention of misleading the investors and the general public


Axis Bank had reported 73% decline in net profit to Rs580 crore for the October-December quarter on account of rise in bad loans. Photo: Bloomberg
Axis Bank had reported 73% decline in net profit to Rs580 crore for the October-December quarter on account of rise in bad loans. Photo: Bloomberg

New Delhi: Private sector lender Axis Bank on Wednesday said its managing director and chief executive officer Shikha Sharma is not resigning.

“...The news appearing in section of social media stating the impending resignation of the MD and CEO of the bank, which please note is false, speculative and is being circulated with the mala fide intention of misleading the investors and the general public,” Axis Bank said in a clarification to the BSE.

Axis Bank has been under pressure over a sharp fall in third quarter profits along with Income Tax Department raids on some of its branches post-demonetisation.

There is also a buzz about the bank’s merger with Kotak Mahindra Bank.

Axis Bank had reported 73% decline in net profit to Rs580 crore for the October-December quarter on account of rise in bad loans. Shares of Axis Bank were trading 2.07% higher at Rs498.10 on BSE.

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