HDFC Bank's top management announced on Saturday, April 18, in a post earnings concall that the re-appointment for a new chief executive officer will happen in 'due course' Former Chairman Atanu Chakraborty's resignation is under legal review, they added. NRC fully ceased of the re-appointment issue.
HDFC Bank's numeration and remuneration committee (NEC) is fully seized with the matter of re-appointment of MD, CEO Sashidhar Jagdishan and will take a final call in this regard in due-course, the bank's deputy MD Kaizad Bharucha said in response to a query by NDTV Profit. Jagdishan's current tenure as bank chief ends in October 2026.
Jagdishan, meanwhile, also said that the bank's board is rooting for interim chairman Keki Mistry to take over as full time chairman, following former chairman Atanu Chakraborty's abrupt resignation last month. The bank's externally appointed firm is assessing the resignation letter filed by Chakraborty and will release the summary of report in due course, Jagdishan said.
Regarding the allegations of mid-selling of AT-1 bonds by the bank's Dubai branch, Jagdishan said the bank did not sell such bonds to retail customers and that the inventors were aware of the risks associated with the high yielding paper.
HDFC Bank said its net interest margin will stay range-bound in near term and have a stable to positive trajectory over a long term period.
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