Shortly before midnight on the eve of the bank holiday in India, global investor favorite HDFC Bank Ltd surprised the market by announcing the sudden exit of its chairman. One line jumped out from the statement: Atanu Chakraborty resigned two years ago over “ethical” differences with the bank. HDFC Bank is headquartered in Mumbai. (Reuters)…
Even before the Iran war and Chairman Atanu Chakraborty’s sudden resignation, investors were betting against HDFC Bank Ltd., with open positions in the stock’s active futures contracts at a record high, according to Bloomberg data tracked by Mint. HDFC Bank is one of the largest stocks traded on India’s stock exchanges. (Reuters) On February 25,…
For Keki Mistry, it is a return to the top position born out of sudden necessity. It doesn’t matter if it’s only for three months. The man who built India’s largest mortgage financier from scratch is now the interim chairman of the combined HDFC Bank Ltd. There is no power struggle within HDFC Bank, said…
Atanu Chakraborty has resigned as part-time chairman of HDFC Bank Ltd, citing discrepancy between his personal ethics and the internal practices of India’s largest private bank. Atanu Chakraborty “Certain incidents and practices within the bank, which I have witnessed over the last two years, are not in line with my personal values and ethics. This…
