Shikha Sharma

Shikha Sharma

Shikha
Born November 19, 1958
India
Residence India
Nationality Indian
Occupation Banker
Employer Axis Bank

Mrs. Shikha Sharma (born November 19, 1958) is the Managing Director & CEO of Axis Bank, India’s third largest private sector bank in India. Mrs Sharma joined Axis Bank in 2009 and as a leader adept at managing change, she has focused on transforming Axis Bank into a Bank with strengths across a wide range of Corporate and Retail Banking products. At Axis Bank, she has focused on strengthening its retail lending franchise, enlarged its investment banking & advisory capabilities and developed a comprehensive portfolio of products in the payments space.[1]

Early life and education

Daughter of an officer in the Indian Army, Shikha was born on November 19, 1958.[2][3] As her father was an army man, the Sharma family travelled all over the country and Shikha attended seven schools in as many cities before finishing her schooling from Loreto Convent in Delhi.[4] She went on to do BA (Honours) in Economics from the Lady Shri Ram College for Women (LSR) in Delhi and MBA from IIM Ahmedabad. She also holds a post-graduate diploma in Software Technology from the National Centre for Software Technology in Mumbai.

According to a Business Standard report,[5] “Physics was her first choice for an undergraduate course but she settled for economics because the former was not offered by LSR. But she has no regrets as economics gave her enough opportunity to prove her formidable skills in maths — a subject very close to her heart.”

Family

Mrs Sharma is married to Sanjaya Sharma, her batch-mate at IIM-A. Sanjaya is the ex- Chief Executive Officer of Tata Interactive Systems. The couple have two children, Tilak and Tvisha,[6] Mrs Sharma has two younger brothers who are cardiologists.

Career

Mrs. Sharma has more than three decades of experience in the financial sector having begun her career with ICICI Bank in 1980. In her 29-year tenure with the ICICI group, Mrs. Sharma was instrumental in setting up ICICI Securities – a joint venture between ICICI and J.P. Morgan, besides setting up various group businesses for ICICI, including investment banking and retail finance. In her last assignment at ICICI, as Managing Director & CEO of ICICI Prudential Life Insurance Company, she built and contributed remarkably to make it the number 1 private sector Life Insurance Company in India.[7]

Achievements

Since Mrs. Sharma's appointment as MD & CEO of Axis Bank in 2009, the bank’s stock has appreciated by a phenomenal 90%.[8] After a year and a half, she acquired Enam Securities, which has turned the bank into an investment banking powerhouse today. The bank's compounded annual net profit growth rate was above 20 per cent in the three years ending 2014-15. The bank’s net non-performing asset ratio was 1.34 per cent as on March 2015, much lower than the 4.4 per cent for the banking sector as a whole. Net profit in 2015-16 rose 18.3 per cent to Rs 7,358 crore, operating profit was up 24 per cent at Rs 3,582 crore, while net interest income grew 19 per cent to Rs 14,224 crore. Advances grew 22 per cent and deposits were up 15 per cent during the year, both higher than the industry. The share of low-cost current account savings account (CASA) deposits remained stable at 45 per cent, a high ratio.[9] The Bank continued its international expansion during the year and opened a Representative Office in Dhaka.[10]

Under Mrs. Sharma’s leadership, Axis Bank has received many awards notably, 'Bank of the Year in India' for the year 2014 by The Banker Magazine, Financial Times. The Bank was conferred the Certificate of Recognition for excellence in Corporate Governance by the Institute of Company Secretaries of India (ICSI), for the year 2015.[11] The Bank was ranked as the 'Most Trusted Private Sector Bank' second year in a row - 'Most Trusted Brand Survey', conducted by Brand Equity, Economic Times.[12] Axis Bank was ranked No 1 company to work for in the BFSI sector - 'The Best Companies to Work for' survey by Business Today in 2013.[13] As an acknowledgement of her efforts, Harvard Business School published a case study on Managing Change at Axis Bank in 2013.[14]

The Bank's CSR arm, Axis Bank Foundation, won the title of ‘Outstanding Corporate Foundation’ as part of the Forbes India Philanthropy Awards 2014. Axis Bank Foundation has set a target of providing sustainable livelihood to one million households by 2017.[15]

Awards and recognition

References

  1. ↑ "Forbes India Magazine - The Quiet Architect: Shikha Sharma has magically transformed Axis Bank in a short span". forbesindia.com. Retrieved 2016-02-09.
  2. ↑ "The Liberal Banker". Mint. 14 June 2014.
  3. ↑ "Bankable Star - Shikha Sharma". Business Today. 18 September 2011.
  4. ↑ "Prudent gleanings: Shikha Sharma's success story". The Economic Times. 27 September 2008. Retrieved 27 January 2014.
  5. ↑ "Lunch with BS: Shikha Sharma". Business Standard. 16 February 2010. Retrieved 27 January 2014.
  6. ↑ "Head to head!". DNA. 27 June 2007. Retrieved 27 January 2014.
  7. ↑ "The Axis Bank MD and CEO's achivements are formidable". www.businesstoday.in. Retrieved 2016-02-09.
  8. ↑ "Shikha Sharma gets a salary hike". Business Standard. 16 May 2013. Retrieved 27 January 2014.
  9. ↑ "A new template for success". Retrieved 2016-02-09.
  10. ↑ "Axis Bank enters Bangladesh, opens representative office in Dhaka". The Hindu. 2015-11-22. ISSN 0971-751X. Retrieved 2016-02-09.
  11. ↑ "Axis Bank receives Certificate of Recognition for excellence in Corporate Governance by the Institute of Company Secretaries of India (ICSI)" (PDF).
  12. ↑ "Most trusted brands ranked by category". timesofindia-economictimes. Retrieved 2016-02-09.
  13. ↑ "Why Axis Bank is among the best companies to work for". www.businesstoday.in. Retrieved 2016-02-09.
  14. ↑ Case Study, HBR (March 28, 2014). "Managing Change at Axis Bank". Harvard Business Review.
  15. ↑ "Fixing The Big Picture: Axis Bank Foundation". Forbes India. 6 January 2015. Retrieved 2 January 2015.
  16. ↑ "BS Banker of the Year is Shikha Sharma". Retrieved 2016-02-09.
  17. ↑ "AIMA - JRD TATA Corporate Leadership Award 2014". www.aima.in. Retrieved 2016-02-09.
  18. ↑ "Business Today listing of India's Best CEOs in 2013". www.businesstoday.in. Retrieved 2016-02-09.
  19. ↑ "AIMA acknowledges the excellence of India". All India Management Association. 18 April 2012. Retrieved 27 January 2014.
  20. ↑ "BloombergUTV honours India's financial leaders and visionaries". afaqs.com. 10 April 2012. Retrieved 27 January 2014.
  21. ↑ "MAGNA AWARDS 2012". Business World. 8 January 2013. Retrieved 27 January 2014.
  22. ↑ "Asia's Women In The Mix, 2013: The Year's Top 50 for Achievement In Business". Forbes. 27 February 2013. Retrieved 27 January 2014.
  23. ↑ "Most Powerful Women". Business Today. August 2013. Retrieved 27 January 2014.
  24. ↑ "25 power women and their inspiring stories". India Today. 9 May 2012. Retrieved 27 January 2014.
  25. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.
  26. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.
  27. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.
  28. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.
  29. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.
  30. ↑ "Shikha Sharma" (PDF). NASSCOM. 2012. Retrieved 27 January 2014.

External links

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