Axis Bank May Acquire a Public Sector Bank – MD and CEO Amitabh Chaudhry

Axis Bank MD & CEO Amitabh Chaudhry has shown his interest in acquiring any of the Public Sector Bank at right time and right price. Axis Bank is the third largest private sector bank in the country. MD and CEO Amitabh Chaudhry who took the helm on January 1, 2019, feels the bank can improve its ranking in the private sector banking space.

Interestingly, few months back the merger of Axis bank with Kotak Mahindra banks was the talk of the town – Read the story 

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He said that the bank will not shy away from acquiring a public sector bank (PSB), provided it comes across a right match at the right price, and can get its arms around some of the asset issues in a clear way. In some cases, the RBI and the government have done that, but it’s not going to be easy. I think, the first step the government will do is continue to merge banks (like Vijaya Bank and Dena Bank are getting merged with Bank of Baroda). Let’s see. We are hoping, but it’s not going to be an easy acquisition…If the right one comes about at the right price, and we can get our arms around some of their asset issues in a clear way, we should be willing to look at it.

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