Equitas Small Finance Bank on Friday (16th June 2023) said that the Reserve Bank of India gave its approval for the re-appointment of P N Vasudevan as Managing Director and Chief Executive Officer of the bank.

* Vasudevan has been reappointed for a period of three years, from July 23, 2023, to July 23, 2026, the bank said in an exchange filing.

* Vasudevan had expressed his desire to move on from his role for a career in health and education. However, in December 2022 he withdrew his decision.

* Equitas Small Finance Bank reported a net profit of ₹190.03 crore for the quarter ending March 31, 2023. The bank had registered a net profit at ₹119.50 crore during the corresponding quarter of the previous year.

* For the year ending March 31, 2023, the bank had registered a net at ₹573.59 crore from ₹280.73 crore registered in the same period of the previous fiscal.

* Total income during the quarter under review stood at ₹1,394.41 crore as against ₹1,043.97 crore registered in the same period of last year.

* For the year ending March 31, 2023, the total income surged to ₹4,831.46 crore from ₹3,997.22 crore registered year ago..

Source : Mint