INSUBCONTINENT EXCLUSIVE:
Mumbai: HDFC Bank managing director Aditya Puri said his vision for the successor at the most successful lender in the country is aligned
HDFC has a nominee in the search committee
He is a large shareholder
He also wants what is best for the organisation
There is no difference between the board and anybody
Citibank to start HDFC Bank in 1994, steps down in October after creating a behemoth with a market value of Rs 6.5 lakh crore
said that the search committee has engaged headhunting firm Egon Zehnder to look at not only the internal candidates but even an external
revealing his preference.
When asked about the general management philosophy of going with an internal candidate in institutions that are
If a lot of them have created a $100 billion franchise they must be competent
The board also acknowledges that we have very strong internal candidates
As regards to external candidates, there had been speculation that Piyush Gupta of DBS and Ajay Banga of Mastercard were being considered
for the top post at HDFC Bank.
CONFLICT OF INTEREST WITH HDB FINResponding to a question on possible conflict of interest between HDFC Bank
after retirement from HDFC Bank in October, Puri said he and his successor would jointly decide on the matter.
The bank is poised to grow
continuing its past success as its leadership team has put in place the relevant technology and created distribution capacity to take
advantage of an economy where demand is abundant while supply is lagging, said Puri.
The government rolling out the red carpet for sovereign
wealth funds in building infrastructure and the Reserve Bank of India easing the liquidity position could revive economic growth above 5%,
although investment may have to wait given the low capacity utilisation.
Puri, who had delivered earnings growth of 15% or so even during
the worst of the slowdowns, said that the government had done its best to kickstart the recovery within the available fiscal
They are focussing on improving productivity with better roads, infrastructure, electricity etc
succeeding would depend on the divestment programme