RBL Bank Ltd reappoints Mr. Vishwavir Ahuja as MD & CEO

Based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of RBL Bank Ltd has today approved the re-appointment of Mr. Vishwavir Ahuja (DIN: 00074994) as the Managing Director & Chief Executive Officer of the Bank for a period of three years, with effect from June 30, 2021 to June 29, 2024 and the same is being recommended to the Reserve Bank of India and shall be subject to their approval.

Mr. Vishwavir Ahuja has been the Managing Director & CEO of RBL Bank since June 30, 2010. He is a seasoned banker with over 38 years of experience and expertise in Banking, Economics, Finance, Risk Management, HR and Business Management.

Prior to joining RBL Bank, Mr. Ahuja was the Managing Director & CEO of Bank of America, India from 2001 to 2009.

Mr. Vishwavir Ahuja joined RBL Bank when it was a small, narrowly focused, regional, southern Maharashtra based old-age private sector Bank. Under his leadership, the Bank has since been transformed into a vibrant, professionally managed, new age, state of the art technology driven, competitive institution with significant size, scale and market relevance.

Between FY 2010-11 and now the Bank has experienced quantum change and evolution both quantitatively and qualitatively and grown consistently in an ever-challenging economic environment. It has delivered strong financial performance year on year. The business base of the Bank has grown manifold - the deposits of the Bank have grown almost 40 times, while the advances have grown more than 45 times since 2011. The net worth of the Bank has grown almost 35 times from 360 Cr to over Rs.12,500 crore now. The Net Profit of the Bank has steadily grown from a meagre 12 Cr in FY 2011 to 506 Cr in FY 2020. The Bank's growth in terms of branches, banking outlets, ATMs, digital footprint, & customers has also been commensurate since 2011. In August 2016, Mr. Vishwavir Ahuja spearheaded one of the country's most successful IPO's, commanding an oversubscription of over 70 times and a significant listing premium.

During his career at the Bank of America spanning 28 years, Mr. Vishwavir Ahuja successfully managed various assignments in USA, Hong Kong and India before becoming CEO at the young age of 41 years.

Mr. Ahuja is currently on the Board of Governors of Indian Institute of Management, Kashipur and a Founder Member of Ashoka University, Soni pat. He was previously (until 2010) on the Board of Governors of the National Institute of Bank Management and past Vice Chairman & Executive Board member of the American Chamber of Commerce - India, Executive Board member of lndo American Chamber of Commerce, and a member of the Managing Committee of Indian Bank's Association. He was also a fellow of Rotary International (Illinois, USA).

Mr. Vishwavir Ahuja holds a master's degree in business administration from IIM - Ahmedabad and an MS degree in International Finance from the University of Michigan, USA and is B. Com (Hons.) from Shri Ram College of Commerce, Delhi.

Shares of RBL Bank Ltd was last trading in BSE at Rs.244.35 as compared to the previous close of Rs. 253.85. The total number of shares traded during the day was 474597 in over 4330 trades.

The stock hit an intraday high of Rs. 252.7 and intraday low of 242.8. The net turnover during the day was Rs. 117012564.

Source : Equity Bulls

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