Business Companies 22 Mar 2017 Axis Bank dismisses ...

Axis Bank dismisses CEO resignation buzz

PTI
Published Mar 22, 2017, 11:25 am IST
Updated Mar 22, 2017, 11:25 am IST
Bank has been under pressure over a sharp fall in third quarter profits along with inocme tax raids.
An Axis Bank ATM.
 An Axis Bank ATM.

New Delhi: Private sector lender Axis Bank today said its MD & CEO Shikha Sharma is not resigning. "..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 per cent higher at Rs 498.10 on BSE.

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Location: India, Delhi, New Delhi




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