The frenetic pace set by CEO Amitabh Chaudhry in turning around the lender’s fortunes is taking a toll on employees, triggering an exodus.
61,734. That’s the number of people who left Axis Bank between 2018-19 and 2020-21. A full 2,000 people more than the 59,614 employees on its payroll in 2017-18.
The period coincides with Amitabh Chaudhry’s taking over the helm of India’s third largest private sector bank, a time when its books have begun to look healthy, as has its asset quality. Even the shares of the bank are putting up a decent show at the bourses.
Chaudhry himself has been rewarded with an extension, which kicked in at the start of the year.
Yet not all is well at the bank. …
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi