Business · Companies · 2 hrs ago
HDFC Bank’s new CEO faces challenges over trust, leadership and growth
Anup Bagchi is taking charge as HDFC Bank’s CEO on 27 October, leading India’s largest private-sector bank.
The lender has a strong balance sheet, but recent controversies have raised questions about its reputation and governance.
These include allegations of mis-selling Credit Suisse bonds, questions about a bulk depositor’s account and an internal inquiry into an alleged leak of confidential information.
Bagchi’s first priority is to rebuild confidence, including among foreign investors, whose shareholding fell to 39% in the September quarter from 42% in June.
Senior departures are also testing leadership continuity: deputy managing director Kaizad Bharucha is set to leave on 31 December, and former CEO Sashidhar Jagdishan’s tenure ends on 26 October.
HDFC Bank’s shares fell 16% in FY26 and were down 6% so far in FY27, adding pressure to restore the bank’s growth and competitive standing.
Anup Bagchi takes charge as HDFC Bank’s managing director and chief executive on 27 October.
He faces the task of rebuilding confidence after controversies that have raised questions about the bank’s reputation and governance.
He must also address senior management departures and revive the bank’s growth engines.
HDFC Bank shares have fallen 6% so far in FY27, after dropping 16% in FY26.
Foreign institutional investors’ shareholding fell to 39% in the September quarter from 42% in June.
- Who
- Anup Bagchi, HDFC Bank’s incoming managing director and chief executive.
- What
- He faces challenges involving confidence in the bank, leadership continuity and growth.
- When
- He takes charge on 27 October. Deputy managing director Kaizad Bharucha is set to step down on 31 December.
- Where
- HDFC Bank, India’s largest private-sector bank.
- Why
- Controversies and senior management departures have raised questions about the bank’s reputation, governance and leadership continuity.
This story does not have two clearly opposing sides.
Former chairman Atanu Chakraborty departed abruptly, adding to concerns about governance and internal differences.
Former CEO Sashidhar Jagdishan’s tenure ends.
Anup Bagchi is due to take charge as managing director and chief executive.
Deputy managing director Kaizad Bharucha is set to step down.
- Incoming CEO
- Anup Bagchi
- Takeover date
- 27 October
- HDFC Bank shares in FY27
- Down 6% so far
- HDFC Bank shares in FY26
- Down 16%
- Foreign institutional investors’ shareholding
- 39% in September, down from 42% in June
- Departure date
- Kaizad Bharucha is set to step down on 31 December
What people are saying
He has to ensure HDFC Bank runs efficiently
Sometimes it is also about non-financial metrics like how people perceive you as a bank
Rebuilding the whole premiumness of the bank is where it’s going to be very important
People have to see him as a leader, not as someone who is just filling in the position.