Axis Bank's Arjun Chowdhury resigns

Axis Bank's Arjun Chowdhury resigns



Third-largest private-sector lender, on Friday informed exchanges that Arjun Chowdhury, group executive overseeing affluent banking, cards, payments, and retail lending, has resigned .


Senior leadership has seen churn lately. In June last year, Sumit Bali, group executive overseeing retail lending quit and joined Yes Bank. Gambhirs appointment comes just ahead of the impending retirement of the bank's Deputy Managing Director Rajiv Anand.

Gambhir had been appointed for a period of three years from the effective date of his appointment and is subject to approval of the shareholders of the bank and the Reserve Bank of india.


Bank targets loan growth 300bps higher than industry levels which appears to be a challenging task given current trends. Muted deposit growth, in comparison to private peers will also restrict loan growth,' said Motilal Oswal in a report, adding that the banks net interest margin (NIMs) .

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