Leadership Shift at Axis Bank: New Executives and Strategic Retirements

Axis Bank announced the promotion of Sameer Shetty, Bipin Saraf, and Rajkama Vempati as group executives. Meanwhile, Deputy Managing Director Rajiv Anand is set to retire in 2025. Despite the leadership change, Axis Bank recorded a slight decline in profits, but its total income increased in the last fiscal year.

Axis Bank has announced major leadership changes with the elevation of Sameer Shetty, Bipin Saraf, and Rajkama Vempati to group executive positions across different verticals. These appointments aim at strengthening its leadership pipeline as Deputy Managing Director Rajiv Anand prepares for retirement in August 2025.

The bank, in a regulatory filing, reported that while Anand will step down, he will continue his association as the non-executive chairperson of Axis Max Life Insurance Ltd. This ensures continuity and stability within the Axis Group's strategic divisions.

Financially, the bank revealed in its recent earnings report a marginal dip in net profit for the March quarter, declining to Rs 7,117.5 crore from Rs 7,129.67 crore year-on-year. Nonetheless, total income saw an uptick, climbing to Rs 38,022 crore from Rs 35,990 crore in the previous fiscal period.

(With inputs from agencies.)