ICICI Bank share price rose more than 4 per cent to hit an intraday high of Rs 293.90 on the BSEICICI Bank sharesjumped more than 4 per cent on Monday, after a report suggested that the board of the private sector bank was mulling reshuffling the top management.
ICICI Bankshares opened nearly 1 per cent higher at Rs 284.95 on stock exchange BSE on Monday, and rose to hit an intraday high of Rs 293.90 during the session.
ICICI Bank shares closed 3.6 per cent higher at Rs292.50 on the bourse.BSE or Bombay Stock Exchange has sought clarification from ICICI Bank, one of the largest private sector lenders in the country, on the report.
A reply is awaited from ICICI Bank.The ICICI Bank group is discussing a reshuffle of its top management that may see its life insurance venture's CEO Sandeep Bakhshi becoming interim chief at ICICI Bank, the Economic Times reported citing people familiar with the matter.Mr Bakhshi currently serves as managing director and CEO of ICICI Prudential Life Insurance.The report comes amid allegations over conflict of interest in loans made to Videocon, a consumer electronics and oil and gas exploration company, which is alleged to have been favoured by the bank's MD and CEO Chanda Kochhar.ICICI Bank had earlier this month said Chanda Kochhar was on a planned annual leave and denied a media report that she was asked to go on leave until an independent board enquiry was concluded.In March this year, the bank had rebutted charges of nepotism and said the board had "full confidence and reposes full faith" in Ms Kochhar.Ms Kochhar began her career with the erstwhile ICICI Limited in 1984 and was elevated to the board of directors of ICICI Bank in 2001.
She served as the joint managing director and chief financial officer from 2007 to 2009, and was elevated to be the managing director and CEO in 2009.
She has been responsible for the bank's diverse operations in India and overseas since then, according to the bank's website.