SBI Card, India's largest pure-play credit card issuer, announced that Mr. Abhijit Chakravorty has taken charge as the company's new Managing Director and Chief Executive Officer, effective 12th August 2023. Mr. Chakravorty has taken over from Mr. Rama Mohan Rao Amara, who is returning to the bank after successfully leading SBI Card for over two and a half years.
Mr. Abhijit Chakravorty is a Deputy Managing Director with the State Bank of India. With a rich experience of 34 years in the banking sector, he has adeptly worked with various divisions of the bank that include retail and corporate banking, overseas operations, and IT infrastructure.
Commenting on the development Mr. Dinesh Kumar Khara, Chairman, State Bank of India said, "We are delighted to welcome Mr. Abhijit Chakravorty as the new MD and CEO of SBI Card. He has a rich and diverse experience as a banker and has a strong track record in various strategic and leadership positions that he has held over the years with SBI. We congratulate him for his new role and wish him all the best. We are confident that he has the right vision and strategic approach to steer SBI Card towards new milestones of success."
Expressing his enthusiasm as he assumes his new role, Mr. Abhijit Chakravorty, Managing Director and CEO, SBI Card shared, "I am pleased to be a part of SBI Card and look forward to being one of the contributors in its journey of success. The company has shown great resilience and grown exceptionally over the years. The credit card industry continues to offer immense growth opportunities and I look forward to working closely with my colleagues at SBI Card to take advantage of this vast potential, with a sharp focus on achieving sustainable and profitable growth."
Prior to joining SBI Card, Mr. Chakravorty was leading the IT operations of the customer facing channels and payment systems as Chief General Manager (Channels & Operations) at the Global IT Centre of SBI. One of his previous assignments with the bank include his long stint with Commercial Credit Group of SBI where he was involved in high value corporate lending. Mr. Chakravorty has led the operations of SBI in Bangladesh as CEO and Country Head. He has also served at SBl's Hongkong branch.
Mr. Chakravorty is a postgraduate in Applied Chemistry and is a Certified Associate of the Indian Institute of Bankers (CAIIB).
Shares of SBI Cards and Payment Services Limited was last trading in BSE at Rs. 854.75 as compared to the previous close of Rs. 866.80. The total number of shares traded during the day was 84960 in over 4324 trades.
The stock hit an intraday high of Rs. 866.90 and intraday low of 843.30. The net turnover during the day was Rs. 72345298.00.