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HDFC Bank Ltd is slowly moving towards succession planning, ahead of the retirement of founding Chief Executive Officer Aditya Puri. Puri’s term ends in October 2020.
At an analyst meet on Wednesday, 9 May, Puri laid down a roadmap for the transition, and said that the depth of leadership at the bank will ensure that the handover is smooth.
The bank plans to have a 12-month overlap period during which the new successor will work with Puri.
The bank will look at talent which could be internal or external, and an announcement will be made in next 18 months, said Puri.
Commenting on the near term business outlook, the bank’s top management told analysts that growth was on track.
Even if there is a moderate recovery in the capex cycle, this is unlikely to derail retail credit growth. Retail credit growth will continue to do well at least for the next five years driven by under-penetration, said Puri.
(Highlights compiled from Nomura, CLSA and Edelweiss reports.)
(The story was first published on BloombergQuint and has been republished with permission.)
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