RBL Bank Announces the New Head of Finance

On August 14th, RBL Bank announced that Buvanesh Tharashankar has been appointed as the Head of Finance. According to the bank’s statement in an official statement in an exchange filing, Tharashankar is joining the Senior Management team of the bank, effective from August 14th. He is also being considered for the role of Chief Financial Officer (CFO) and will be recognized as a key managerial figure within the bank.

The bank further added that Tharashankar’s potential appointment as CFO will be presented for deliberation at upcoming board meetings and other pertinent discussions to secure the necessary approvals.

Buvanesh Tharashankar possesses more than 28 years of experience in the field of Banking as a Chartered Accountant and has demonstrated expertise in enhancing business strategies through effective business planning and analytics. He has proved to have extensive proficiency in financial control and compliance.

Regarding RBL Bank’s performance in the first quarter, the institution reported a net profit of Rs 288 crore, surpassing expectations and marking a significant increase from the Rs 201 crore reported during the same period in the previous year.

The bank, headquartered in Mumbai, demonstrated improved asset quality with a decrease in gross non-performing assets (GNPAs) from 4.08% in the previous year to 3.22%. Net non-performing assets (NNPAs) also exhibited a decline from 1.16% in the year-ago quarter to 1.00%.

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