Tag: ICICIBank

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Leaders

Sandeep Bakhshi gets reappointed as ICICI Bank CEO

ICICI Bank has reappointed Sandeep Bakhshi as its Managing Director and Chief Executive Officer for an additional two years, keeping him at the helm until October 3, 2028.

The decision was made at a board meeting on January 17, 2026, and disclosed through a regulatory filing. Bakhshi has been leading ICICI Bank since October 2018 and has over 30 years of experience across the ICICI Group, including roles at ICICI Bank, ICICI Prudential Life Insurance, ICICI Lombard, and ICICI Limited.

In addition to Bakhshi, the board also approved the two-year extension of Executive Director Ajay Kumar Gupta, effective from November 27, 2026, to November 26, 2028. Both appointments are subject to approvals from the Reserve Bank of India, shareholders, and other statutory authorities.

Bakhshi’s reappointment comes as ICICI Bank continues to show steady operational performance. While the bank reported a slight decline in net profit for the quarter ended December 31, 2025, due to higher provisions following a regulatory review of agricultural loans, key metrics such as net interest income, asset quality, and loan growth remained robust. Analysts say that extending Bakhshi’s tenure ensures leadership continuity, which is crucial for maintaining strategic stability and investor confidence.

The board’s decision highlights the bank’s strategy of balancing performance, governance, and regulatory compliance, ensuring confidence among shareholders, customers, and stakeholders.

Under Bakhshi’s leadership, ICICI Bank has strengthened its presence in both retail and corporate banking, focusing on disciplined growth, technological innovation, and risk management. The bank’s board emphasized that these extensions reflect a commitment to strong corporate governance while providing stability in management during a period of evolving market conditions.

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1 Minute-Read

ICICI Bank Q3 profit seen up 7.5%

ICICI Bank is expected to report a steady performance in the December quarter, with analysts forecasting up to 7.5 percent year-on-year growth in profit after tax.

The growth is likely to be driven by healthy loan expansion, especially in retail and small business segments. Net interest income is estimated to rise around 6–8 percent, supported by strong credit demand.

Net interest margins are expected to remain largely stable despite pressure from funding costs. Market participants will closely track asset quality, fee income and provisioning trends when the bank announces its Q3 results.

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Corporate

ICICI Bank revises credit card charges, benefits from 2026

ICICI Bank has announced a series of changes to its credit card charges and benefits, which will come into effect in phases starting January and February 2026. The revised structure will apply to all retail credit card customers and is expected to impact spending on gaming, wallets, travel, entertainment and premium card services .

One of the key changes is the introduction of a 2 per cent charge on online gaming transactions. This fee will apply to deposits, in-game purchases and other payments made on gaming platforms using ICICI Bank credit cards.

The bank has also revised rules around transportation-related spending. For certain merchant categories, transactions exceeding ₹50,000 will attract a 1 per cent charge. In addition, reward points earned on such spends will now be capped. Premium cards like Emeralde and Sapphiro will have a monthly reward cap of ₹20,000 on transportation spends, while mid-range cards will be capped at ₹10,000.

Digital wallet loading will become costlier as well. ICICI Bank will levy a 1 per cent fee on wallet top-ups of ₹5,000 or more, including payments made to popular platforms such as Paytm, Amazon Pay and MobiKwik.

Entertainment benefits are also being tightened. The popular BookMyShow Buy-One-Get-One movie ticket offer will now be available only to customers who spend at least ₹25,000 in the previous calendar quarter. The Instant Platinum credit card will no longer offer this benefit from February 2026.

For premium cardholders, the bank has announced higher charges on Dynamic Currency Conversion (DCC), which applies when international transactions are converted into Indian rupees at the point of sale. Additionally, one-time add-on card fees will be introduced for select high-end credit cards.

Other changes include revised charges on branch cash payments, updates to Instant EMI cancellation fees, and modifications to certain service-related charges.

ICICI Bank has advised customers to carefully review the updated fee structure and benefit conditions. With new charges on specific spending categories and tighter reward limits, cardholders may need to reassess how they use their credit cards to avoid higher costs and maximise benefits under the new rules .

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