Chanda Kochhar

CHANDA KOCHHAR INTRODUCTION • Chanda kochhar is currently the Managing Director (MD) and chief Executive officer(CEO) of ICICI Bank. ICICI Bank is India’ s largest private bank and overall second largest bank in the country. She is widely recognised for her role in shaping the retail banking sector in India and for her leadership of the ICICI Group, as well as her contributions to various forums in India and globally. • In 2014, She has been named among Fortune’s 50 most powerful women in business for the fourth consecutive year. Under the leadership of kochhar, ICICI has transformed itself from corporate bank into a retail bank , and now a universal bank. Early Life • Chanda kochhar was born in Jodhpur, Rajasthan on November 17, 1961, but was raised in Jaipur, Rajasthan. • She joined Jai Hind College in Mumbai for a Bachelor of Arts degree. • After completing her graduation in 1982, she pursued cost accountancy (ICWAI). • Later ,she did her Master’s degree in management studies from esteem Jamna Lal Bajaj Institute of Management Studies in Mumbai from where she received a Wockhardt Gold medal for excellence in Management Studies. In the same year, she won the J.N Bose gold medal for cost accountancy. • 1984 was the year in which Mrs Chanda Kochhar started her professional career by joining “The Industrial Credit and Investment Corporation of India” as management trainee. CAREER Chanda Kochhar started her professional career in the year 1984 and can be divided into three phases. 1984-1993 The first phase is that from year 1984-1993. It was the year 1984 that she joined “The industrial credit and investment corporation of India Ltd”(ICICI ltd) as a management trainee. In her initial year in ICICI , she handled project appraisal and monitoring and various projects in petrochemicals, textile and cement and paper. 1993-2006 The second phase was from 1993-2006. It was in this intermediate phase of her life that she was sent to be a part of a core team of bank and set it right. After 10 years of working in the same bank she was given the responsibility to be the General Manager in 1994 followed by which she became the Deputy General Manager in the year 1996. She headed the infrastructure Industry Group of ICICI. Continued… In 1999, she was promoted as the General Manager and became the head of ICICI’s ‘Major Client Group’ which handled relationships with top 200 clients of the organisation. In the same year she started handling the strategy and E-commerce divisions of ICICI. Under Kochhar’s leadership, ICICI began its retail business in 2000 and in the next five years ,became ‘The biggest retail financer in India. In 2001, she became the Executive Director of ICICI Bank. 2006-till now Finally the third phase started in 2006 and continuing till now. In April 2006, Chanda kochhar was given the designation of Deputy Managing Director of ICICI Bank . Using her unique skills she started to handle both international and corporate business of ICICI Bank .Her designation was also advanced to Chief Financial Officer(CFO),Joint Managing Director(JMD) and also the Official spoke person from 2007 to 2009. Continued… Also Mrs Kochhar is a director of different companies of ICICI Group. She is the honourable chairperson of ICICI Bank Eurasia Ltd Labiality Company. Today, being the MD and CEO of ICICI, She is also director of ICICI International Ltd and ICICI Prudential Life Insurance Company Ltd. In addition to her responsibilities at the ICICI Group, Mrs Kochhar is a member of the Prime Minister’s Council on Trade and Industry, the Board of Trade, High level Committee on Financing and Infrastructure , US-India CEO Forum and UK –India CEO Forum. She is a member of the Indian Council for the Research on International Finance and International Monetary Conference. She was co-chair of the World Economic Forum ‘s Annual Meeting in 2011. Kochhar ‘s turnaround of ICICI has earned her many accolades and reward. PERSONAL LIFE When Chanda Kochhar was born her family was dwelling in Jaipur. Her father was a known figure in Jaipur and was a principle at an engineering college. The name of his father was Professor Roopchand Advani. Chanda Kochhar was a brilliant student and dreamt of becaming IAS Officer .However, destiny has something else for her. Her father died when she was just thirteen and then her mother decided to shift Mumbai along with her three children . Chanda kochhar came to mumbai and started to see business world from close proximity. She did her graduation and post graduation in Mumbai. She is married to Deepak Kochhar , who is a successful wind energy entrepreneur. Both of them were in the same batch at Jamna Bajaj institute from where kochhar did her MBA. He has always supported Chanda to the hilt. She believed that major part of her success story is because of her husband. continued…. Chanda kochhar has one son and one daughter, Arjun and Aarti Kochhar. Aarti has just completed her engineering and Arjun is still a school going boy and he is a sport enthusiast. Aarti has recently been engaged to Aditya Kaji Mentors to whom she owes her success During her career, Kochhar drew on the lessons learnt from ICICI’s iconic Chairman Narayan Vaghul, as well as Kamath, both of whom have deeply influenced her career. Starting at ICICI around the same time Vaghul came to the institution, Kochhar made her mark early, being confirmed in her job three months ahead of schedule. Vaghul identified Kochhar’s talent quickly , and included her in a select team to drive the computerisation of ICICI. Several years later, Kochhar was instrumental in establishing the new banking entity in 1993 , which later become gaint as it is today. In between ,she had taken on several roles at the institution, heading the infrastructure finance and corporate banking business in ICICI , and building the retail business in 2000.By 2006- 07,Kochhar was leading ICICI Bank’s corporate and international banking business at the time when Indian companies were Continued… aggressively making a mark on the global mergers and acquisition landscape. Between 2007 and 2009, she had consolidated her position as its joint MD and CFO. Mr Vaghul had a vision and he picked Chanda Kochhar to lead the banking initiative. Kochhar peers hold her in high esteem, Mr Vishwavir Ahuja who is a former Indian head of Bank of America holds that Chanda is a very bright capable leader with admirable grit and determination. Her personality traits are responsible for the success she has achieved. Kochhar’s mother was a powerful role model for her. Her family was a sindhi family, a Hindu group whose member lost their land and wealth when they fled from Pakistan to India following India’s partition in 1947. After her father died her mother worked as a designer in a clothing boutique to support her three children. She was a great source of inspiration for her. Profile of ICICI Bank TYPE PRIVATE BANK Position Second largest Bank in India Total Asset Rs 5,367.95 billion (US $ 99 billion) as on 31st march,2013 Profit After Tax Rs.83.25 billion (US $ 1,533 million) Network 3,620 branches and 11,292 ATM’s in India and has a presence in 19 countries Subsidiary in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia and their UK subsidiary has established branches in Belgium and Germany. Headquarter ICICI Bank Towers, BandraKurla,Mumbai, India ICICI Bank(formerly Industrial Credit and Investment Corporation of India).ICICI Ltd was established in 1955 by the World Bank, the Government of India and the Indian Industry, for the promotion of industrial development in India by giving project and corporate finance to the industries in India. ICICI Bank has grown from development bank to a financial conglomerate and has become one of the largest public financial institution in India.ICICI Bank has financed all major sectors of economy. Kochhar’s strategy to keep ICICI on growth trends • Things have changed quit dramatically for ICICI Bank which today has a asset size of Rs.5.36 lakh crore up from Rs3.79 lakh crore in 2008-09, when Kochhar took charge. The proportion of low-cost current – account-saving account (CASA) deposits has grown substantially from 28.7 per cent of total asset in 2008-09 to 43.3 per cent in 2012-13. • The focus on better management of risk has led to a dramatic improvement in credit quality and credit cost or the cost of provisions the bank makes against bad loans – declined from 2.2 per cent of total asset to just 0.8 per cent in financial year 2012-13. • A mixed strategy is followed, on one hand cost were being cut and high- cost deposits were being shed. On the other , the branch network was being expanded. Internally ,from a product centric model where segmentation was done on the basis of deposits, home loans ,car loans and the like, the bank moved to customer segmentation. • For now, as the economy slow down, Kochhar hopes the bank with its distribution network, funding profile, knowledge and skill base, will continue growing at 2-3 per cent higher then the industry average. “The bank’s substantial branch expansion in the past 24 months is expected to result in a more favourable deposit mix going forward. It expects the growth in advance for FY 2014 to be 2-3 per cent above industry growth which at times looks achievable.

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