Anup Bagchi backs 'exceptional' team as he connects the dots at HDFC Bank

Mumbai: Anup Bagchi, the new MD and CEO of India's largest private bank, HDFC Bank, has begun familiarising himself with the bank's balance sheet, profitability, and leadership team ahead of his October 27th appointment. Speaking about his role post-merger, Bagchi stated that much of the challenging work is already completed. He emphasized that while there is still work to be done, the groundwork has been laid.

Following the merger, the bank has been focusing on rebalancing its loan and deposit portfolios, enhancing profitability, and reviving growth in retail lending.

With over three decades of experience at ICICI Bank, Bagchi has joined HDFC Bank's board as an additional director. He plans to invest time in understanding the institution thoroughly rather than rushing into strategic changes. Bagchi intends to interact with regulators, customers, and stakeholders to gather insights, which will serve as crucial input.

He reaffirmed his confidence in the management team and the bank's institutional processes, emphasizing that HDFC Bank is a process-driven organization that relies heavily on internally groomed leaders.

Industry expert Ashvin Parekh, founder of Ashvin Parekh Advisory Services, praised Bagchi's ability to mobilize teams and execute strategies. He highlighted Bagchi's exceptional people skills, noting his talent for simplifying complex messages while effectively conveying his points. Parekh also commended Bagchi's profound understanding of technology.