Puneet Sharma will replace Jairam Sridharan, who has resigned as the group executive & chief financial officer of the bank, with effect from the close of business hours on 5 March 2020.
Puneet Sharma, president and chief financial officer of the bank will report directly to the managing director & CEO of the bank, Axis Bank said in a statement issued during trading hours today, 27 February 2020.
On a standalone basis, Axis Bank’s net profit rose 4.5% to Rs 1,757 crore on a 7.5% jump in total income to Rs 19,494.87 crore in Q3 December 2019 over Q3 December 2018.
Shares of Axis Bank was down 0.47% to Rs 726.35. The stock hovered in the range of Rs 717.20 to Rs 730 so far.
Axis Bank provides a range of corporate and retail banking products. The bank’s segments include treasury, retail banking, corporate/wholesale banking and other banking business.