India's HDFC Bank , the country's largest private lender, will appoint Anup Bagchi as its next chief executive for a period of three years, it said on Thursday after getting approval from India's central bank.
Shares of HDFC Bank opened 2.5% higher even as the company's chief executive officer made a surprise announcement to not seek reappointment. Analysts believe that the successor's profile could offer re-rating potential.
Shares of Indian banks rose more than 1% on Tuesday, making them the top-performing sectoral gainers after the Reserve Bank of India issued detailed guidelines for a concessional foreign exchange swap facility that lenders can use for overseas borrowings. The move forms part of a broader package of measures announced by the central bank to attract foreign capital into the country at a time when...
HDFC Bank shares declined on Wednesday after a newspaper report alleged that India's biggest private lender made payments to a Maharashtra state department to secure large deposits, raising fresh questions over governance at the bank. The stock fell as much as 2% and was trading 1.9% lower at 764.20 rupees as of 10:40am in Mumbai.
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