In February 2017, now sacked CEO and MD of ICICI Bank Ltd Chanda Kochhar had addressed a group of investors at a Singapore hotel at the bank’s in-house merchant banking outfit’s annual road show.
Much to her embarrassment and annoyance, one global investor asked her with a straight face: “Wouldn’t a bank chief in any other geography have lost the job after the kind of performance ICICI Bank has put up over the years under your stewardship?” An awkward smile laced with silence was her answer. After all, ICICI Bank had underperformed its peers as well as the ...
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