As per my employee contacts at ICICI Bank, lot seems to have changed since Sandeep Bakhshi took over.
He is focused, detail oriented and a boring banker.
Result – there is less focus on market position but more on effective growth by identifying the available market opportunities. Unit economics and credit quality has become a key matrix for growth.
This doesn’t mean that ICICI has stopped focusing on the numbers game. However, now it’s more about selective focused growth and not wide canvas approach.
As per him, credit quality continues to be generally in control and with Sandeep’s approach should continue to remain so – unless there are some Covid related jerks or other black sawn events.
Technology was and continues to be a key focus area for ICICI bank and there is a sustained effort to keep improvising the same. ICICI continues to see itself as the technology frontrunner in the Indian banking sector.
Bank also seems to be closely watching the emerging trends in banking, continues to engage with new generation fintech entities and would participate in whatsoever manner seems viable.