Axis Bank Announces Strategic Leadership Changes

Axis Bank elevates Sameer Shetty, Bipin Saraf, and Rajkamal Vempati to group executives for key verticals, marking a new leadership era. Rajiv Anand is set to retire, but will remain as non-executive chairperson of Axis Max Life Insurance. These changes coincide with a slight decline in recent profits.

Axis Bank, a major player in the private sector, has unveiled significant leadership updates by promoting Sameer Shetty, Bipin Saraf, and Rajkamal Vempati to key executive positions. These shifts come as the deputy managing director, Rajiv Anand, prepares for his retirement from the bank in August 2025.

After retiring, Anand will continue to contribute to Axis as the non-executive chairperson of Axis Max Life Insurance Ltd. The leadership transitions are slated to take effect from April 1, 2025, strengthening the bank's strategic positioning in the market.

This announcement follows the bank's financial report showing a slight dip in net profit for the March quarter. Despite the marginal decline from Rs 7,129.67 crore to Rs 7,117.5 crore, Axis Bank's total income experienced growth, reaching Rs 38,022 crore.

(With inputs from agencies.)