Here’s everything you need to know about Mr. Sandeep Batra, the Executive Director of ICICI Bank Ltd. This article talks about his career, profile, salary, net worth, bio, and more.

Who is Sandeep Batra?

Mr. Sandeep Batra is the Executive Director of ICICI Bank Ltd. Along with that, he is also a board member at the ICICI Prudential life insurance company, ICICI Lombard General company, ICICI Prudential AMC, and other companies.

ICICI Bank is one of India’s largest banking and financial services companies with over 80,000 employees and a presence in over 17 countries.

This article will walk you through all the key things you must know about Mr. Sandeep Batra.

Mr. Sandeep Batra’s profile, education & professional journey

His education & professional qualifications:

Mr. Sandeep Batra is a Chartered Accountant (CA- 1987), and a Company Secretary (1993).

He oversees Operations and Customer Service Group, Phone Banking Group, Human Resource Management Group, Infrastructure Management Services Group, Technology Group, Legal Group, Corporate Communications, Secretarial Group, and Government & Strategic Relations function. He also oversees regulatory and Board related matters for the International Banking business. He is also administratively responsible for the Risk function, Internal Audit, and Financial Crime Prevention Group, and Compliance Group.

Mr. Sandeep Batra is a board member of ICICI Group companies like

• ICICI Prudential Life Insurance company LTD
• ICICI Prudential AMC LTD
• And ICICI Venture Fund Management Company
• ICICI Lombard General Insurance company LTD
• ICICI Bank UK

Source

His professional journey:

Before taking charge as the ED of ICICI Bank, Mr. Sandeep Batra has played many key roles in his career with the ICICI Group and its subsidiary companies, source.

Mr. Sandeep Batra is one of the founding members of the ICICI Prudential Life Insurance Company and has worked with the organization as its Chief Financial Officer from September 2000 till 2006, post which he had joined the ICICI Bank as its Group Compliance Officer.

Later, Mr. Batra re-joined the ICICI Prudential Life Insurance Company as the Executive Director and a board member in the year 2014 till 2018.

Being a part of the team in charge of the company he overlooked the finance, investments, and actuarial risk and compliance functions of the company, source.

During his tenure with ICICI Prudential, Mr. Batra & Mr. Sandeep Bakhshi (the then CEO of ICICI Bank Ltd) played an instrumental role in launching India’s first-ever IPO in the Insurance Industry after the insurance space opened up to private sector investors in the year 1999.

This was a key moment for the Indian insurance industry as Mr. Batra & Bakhshi led ICICI Prudential Life Insurance Company in September 2016 launched the 2nd largest initial public offer after Coal India’s stake sale in the year 2010. It was paving way for a more than 50 billion $ insurance industry in the years to come, source.

ICICI Bank planned on raising Rs 6,000 crores by selling a stake in ICICI Prudential Life Insurance Company, which was valued at Rs 48,000 crores.

ICICI Prudential Life Insurance Company had over 1 Lakh Crore of Asset under Management (AUM), source. The company was planning to sell 181,341,058 shares in a price band of 330-334 apiece.

The targeted valuation of Rs. 48, 000 crores were almost 50% higher than the previous year’s valuation when Singapore state’s investment arm Temasek & Premji Invest, the investment arm of Wipro’s chief Mr. Azim Premji had acquired a 2% and 4% stake in ICICI prudential, that company as then valued at Rs 32,500 crores, source

ICICI Prudential Life Insurance Company currently has a market cap of around Rs. 58,168.42 CR

The IPO was oversubscribed by over 10 times for shares offered to the public.

Mr. Sandeep Batra was later appointed as the President – Corporate Centre of ICICI Bank in July 2018. He used to directly report to Sandeep Bakhshi the then COO (Chief Operating Officer) of ICICI Bank Ltd.

ICICI Bank during those years was led by MD & CEO Chanda Kocchar, who took an early exit from the bank. Sandeep Bakshi took over as the MD (Managing Director) CEO (Chief Executive Officer) of the bank.

Mr. Sandeep Bakhshi, and Mr. Sandeep Batra both along with other leaders at the Bank had to take charge after the early exit of Chanda Kocchar. They had to work towards fixing the tarnished public image and financial challenges that the bank was facing.

Mr. Sandeep Bakhshi had set out to reinvent the institution that played a key role for 6 decades. The leadership team at ICICI Bank had to work towards projecting an image that is friendly and compliant so it could help them lay out a path for the bank that could be less bumpy.

Mr. Sandeep Batra & Mr. Sandeep Bakhshi in an interview with Economic times had stated it is “profitability over the top line”, he further added “We won’t do things that we don’t understand. We have become very particular about where we would be lending.”

Their intentions were clear, and their strategy was to change priorities and direct and lead their staff to think and act differently.

“Now, they will be averse to sectors where they have burnt their fingers,” says Sidharth Purohit, an analyst at SMC Global Securities said.

Mr. Sandeep Batra added in the interview “We are not going to project finance, that’s very clear. We are willing to lend wherever people are putting in equity”.

This decision was taken seeing the banks stressed assets, which consisted of bad loans and restructured loans which were around 8.54% of total loans.

In December 2020 he was appointed as the Executive Director of the bank.

Mr. Batra in News

About his appointment as Executive Director of ICICI Bank:

RBI okays Sandeep Batra’s appointment as executive director of ICICI Bank

About the recent ICICI Bank Q1 FY 20 ICICI Bank results:

• Q1 Net Profit up 36% YOY, ‘COVID-19 related provisions of Rs. 5500 CR will give prudence to the banks’ balance sheet’. Know more here
• Sandeep Batra, President ICICI bank Ltd announces the bank’s much-anticipated results, on Saturday, for the quarter ending June 30, 2020, and has recorded a profit after tax of INR 2599 cr – a significant 36% rise from the INR 1908 CR recorded in Q1-2020. Read this article here
• ICICI Bank- the second-largest private bank has reported a quarterly report of FY 2021, and impressively they have received a 36% annual rise in the profits as per Sandeep Batra, President of ICICI Bank Ltd. Read this article here

About ICICI group’s contribution to the PM cares fund towards COVID-19 Pandemic:

• “The outbreak of COVID-19 has thrown an unprecedented challenge to the nation and its citizens. It demands us to stand together and fight the challenge.” Read more here

Mr. Sandeep Batra’s Salary & Net worth

We were not able to find more details about Mr. Batra’s net worth. However as per the statements filed by ICICI Bank for the 2020 fiscal year, we were able to know more about Mr. Sandeep Batra’s salary, him being a part of the leaders at one of the largest Indian banks he could have made around 35,921,225 as of the President, according to this article this number might have not covered his bonuses, perks, and other benefits.

Mr. Sandeep Batra in videos

• H.R. COLLEGE OF COMMERCE AND ECONOMICS | Financial Literacy Webinar by HRNSS: – Watch the video here
• ICICI Bank on Q1 Results | Profit, Revenue, Quarterly Stock Analysis – Watch the video here
• ICICI Bank: Covid-19 provisions to strengthen balance sheet | Analysis – Watch the video here
• ICICI BANK’s 5550 cr provision to cushion Balance Sheet | ICICI Stock Analysis – Watch the video here
• ICICI Bank Net profit up by 36% | ICICI Q1 Results Fundamental Analysis – Watch the video here
• Sandeep Batra – ICICI Prudential Life Insurance IPO | Hybiz – Watch the video here

His social media presence

We were not able to find Mr. Sandeep Batra’s LinkedIn, or a Wikipedia page.

A recent message from Mr. Batra on the Q3 FY21 results.

“We have continued to reimagine existing digital journeys to decongest delivery of service and enhance customer experience”, said Mr. Sandeep Batra, Executive Director, ICICI Bank, in an address to the media. While the Bank has always been at the forefront of digital banking innovations, during the Covid-19 pandemic, the Bank has been quick to embrace digital solutions with a mobile-first strategy to deliver exceptional customer experiences, despite the lockdown constraints. Source

Wrapping up

Mr. Sandeep Batra, the Executive Director of ICICI Bank ltd stays a person to keep a track of in the fast pace Indian BFSI space. Due to his diverse experience starting from being a part of the founding members of the ICICI Prudential life insurance team in the initial days of the Indian insurance industry to today’s digital-first banking initiatives.

Mr. Batra becomes an even more critical member of the leading team at the ICICI Bank & ICICI Group due to his experience with various ICICI group subsidiaries and the fact that he could become the executive director of one of India’s largest banking and finance corporation in some days.