Award: Best CEO - Private Sector
Chanda Kochhar
MD & CEO, ICICI Bank
Age: 51
Interests outside of work:
By reducing dependence on wholesale funds, the bank also cushioned the impact of interest rate cycles. “At one time, retail deposits as a proportion of total deposits used to be less than 50 percent; now they are over 70 percent,” points out Kochhar. “Further, within wholesale deposits, dependence on 10 large depositors is lesser than earlier. So we have granularised our deposits and focussed on CASA, which is more stable.”
Between 2007 and 2009, she had consolidated her position as its joint MD and CFO. “Mr Vaghul had a vision for the institution. He could take transformational steps. He picked me to lead the banking initiative and told me this was the first time in 50 years that people were getting an opportunity to build a bank from scratch rather than setting up branches,” says Kochhar. “Mr Kamath, on the other hand, had the ability to spot trends ahead of others. He saw the retail trend and that of the globalisation of Indian businesses.”
(This story appears in the 01 November, 2013 issue of Forbes India. To visit our Archives, click here.)
I am a great admirer of Ms. Kochhar for the way she managed the \"consolidation phase\". But with focus shifting on growth again, they have to be very cautions and not repeat the same mistakes -- be it aggressively selling their ATS or Credit Cards or Gold loans.
on Nov 22, 2014Really, inspirational for everyone, she has done a great job. Every successful person has one common thing, the things is, they turned failure into success. failure is foundation of every success.
on Oct 26, 2013It indeed is incredible in the light of the backdrop that she took the reins in her hand. We do need such executives who can turn the tables. kudos.
on Oct 25, 2013Congratulations Madam for winning the Best CEO - Private Sector Award. Dr.A.Jagadeesh Nellore(AP),India
on Oct 22, 2013Women empowerment to the core.............a role model for Indian Banking industry.
on Oct 22, 2013