Axis Bank’s new CEO Amitabh Chaudhry is in talks to recruit Federal Bank’s outgoing executive director Ganesh Sankaran and HDFC Bank’s Ravi Narayanan to strengthen the bank’s leadership team. Both Sankaran and Narayanan are reportedly negotiating their appointment terms for joining Axis Bank. Sankaran will step down with effect from February 15 while Narayanan quit last month after spending almost two decades with HDFC Bank.
HDFC Bank on Saturday reported a 20.31% year-on-year growth in net profit at Rs 5,585.85 crore for the third quarter ended December as compared to Rs 4,642.60 crore in the year-ago period. Net interest income (NII) of the lender jumped 21.93% y-o-y to Rs 12,576.75 crore during the quarter. NII is the difference between interest earned on loans and that paid on deposits. Gross non-performing assets (NPAs), as a percentage of total advances, rose marginally to 1.38% in the December quarter, against 1.33% in the September quarter and 1.29% a year ago.