- Anup Bagchi appointed MD and CEO of HDFC Bank for three years from October 27, 2026
- He succeeds Sashidhar Jagdishan, with RBI approval for the appointment
- Bagchi has over 30 years experience in banking, insurance, and capital markets
HDFC Bank has appointed Anup Bagchi as its new Managing Director and Chief Executive Officer for a three-year term, starting October 27, 2026. He will succeed Sashidhar Jagdishan, whose term ends on October 26. The appointment was approved by the Reserve Bank of India.
But who is Anup Bagchi, the veteran banker taking charge of India's largest private sector lender?
Career And Experience
Bagchi brings more than three decades of experience across banking, insurance and capital markets. He has been associated with the ICICI Group since 1992 and has held several senior positions within the group.
He was an Executive Director at ICICI Bank and served on its board. During his banking career, he worked across retail, MSME, corporate banking, treasury, credit policy and data analytics.
Bagchi also served as Managing Director and CEO of ICICI Securities, giving him extensive experience in capital markets. He has represented the ICICI Group on regulatory committees involving the RBI and SEBI.
He currently serves as Managing Director and CEO of ICICI Prudential Life Insurance.
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Bagchi's Track Record
Bagchi played a key role in building ICICI Bank's retail franchise. During his tenure, the bank's retail mortgage book crossed Rs 2 trillion.
He also helped steer ICICI Bank through the disruption caused by demonetisation, with limited operational disruption.
At ICICI Prudential Life, the company's annualised premium equivalent (APE) rose 15% to Rs 10,407 crore in FY25. Its profit after tax increased nearly 40% to Rs 1,189 crore.
Anup Bagchi Education
Bagchi holds a management degree from IIM Bangalore and an engineering degree from IIT Kanpur.
His appointment brings an experienced ICICI Group veteran to the top role at HDFC Bank as the lender begins its next leadership phase.
Also Read | Parag Thakkar Sees HDFC Bank Hitting Rs 925 In A Year
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