Market Chatter: HDFC Bank Probe Finds Two Executives Leaked Secrets

MT Newswires Live10-21

HDFC Bank (HDB) found evidence that two senior executives leaked confidential business strategies and other information to outsiders, Bloomberg reported on Wednesday, citing anonymous sources.

The ongoing probe by HDFC, India's largest bank by market capitalization at $115 billion, continues to examine whether the information was misused.

The HDFC investigation will land on the plate of Anup Bagchi, a veteran of rival ICICI, who is set to become the bank's new CEO on Oct. 27.

An HDFC Bank spokesperson confirmed that an internal review was underway but declined to comment on its findings or the executives involved, Bloomberg reported.

Representatives from HDFC did not immediately respond to a request for comment by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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