Axis Bank dismisses managing director and CEO Shikha Sharma's resignation buzz

Axis Bank has been under pressure over a sharp fall in third quarter profits along with Income Tax Department raids on some of its branches post-demonetisation.

PTI March 22, 2017 11:46:34 IST
Axis Bank dismisses managing director and CEO Shikha Sharma's resignation buzz

New Delhi: Private sector lender Axis Bank today said its MD & CEO Shikha Sharma is not resigning.

Axis Bank dismisses managing director and CEO Shikha Sharmas resignation buzz"..The news appearing in section of social media stating the impending resignation of the MD & CEO of the Bank, which please note is false, speculative and is being circulated with the mala fide intention of misleading the investors and the general public," Axis Bank said in a clarification to the BSE.

Axis Bank has been under pressure over a sharp fall in third quarter profits along with Income Tax Department raids on some of its branches post-demonetisation.

There is also a buzz about the bank's merger with Kotak Mahindra Bank.

Axis Bank had reported 73 per cent decline in net profit to Rs 580 crore for the October-December quarter on account of rise in bad loans.

Shares of Axis Bank were trading 2.07 percent higher at Rs 498.10 on BSE.

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