Satin Creditcare Network Ltd welcomes Mr. Bhuvnesh Khanna as President of Satin Finserv Ltd

Satin Creditcare Network Limited ("SCNL"), a leading microfinance institution in India, has announced the appointment of Mr. Bhuvnesh Khanna as the President of its MSME wholly owned subsidiary, Satin Finserv Limited ("SFL"). Mr. Khanna joins the organization with a wealth of experience in various domains of banking including Investment Banking, Corporate Banking, SME Banking and Retail banking spanning over 25 years.

Mr. Bhuvnesh Khanna is a distinguished graduate from St. Xavier's College, Kolkata and holds the prestigious Chartered Accountant degree from the 1994 batch. Throughout his illustrious career, Mr. Khanna has had the privilege of working with leading brands in the banking industry including Kotak Mahindra, HDFC Bank, Deutsche Bank and HSBC. His most recent role was with HSBC where he held pivotal positions across multiple marketssuch as India, Hong Kong, Shanghai, Bangladesh and London.

Mr. Khanna brings a wealth of experience in National, Regional and Global roles, providing him with exposure to business/country head positions with P&L responsibilities, as well as central team roles in HSBC's regional and global offices. Notably, he has played a key role in the initial transition and scaling up of the SME business of HSBC in India during his tenure as Head of SME. He subsequently served as the Regional Head of Business Banking for HSBC in Asia, Head of Commercial Banking in Bangladesh and Global Head of Business and Transaction Management for HSBC Global Commercial Banking based out of London.

Commenting on Mr. Khanna's appointment, Mr. HP Singh, Chairman cum Managing Director of Satin Creditcare Network Limited, expressed his enthusiasm and said, "We are pleased to welcome Mr. Bhuvnesh Khanna to the Satin family as the President of Satin Finserv Limited. His vast expertise in various banking domains, in conjunction with his extensive experience in driving business development and growth, makes him an excellent addition to our team. With his proven track record in leading and expanding SME businesses, we are confident that Mr. Khanna will play a pivotal role in driving the growth and success of Satin Finserv Limited."

Mr. Bhuvnesh Khanna also shared his thoughts on joining Satin Finserv Limited and said, "I am honoured and excited to be a part of Satin Finserv Limited and Satin Creditcare Network Limited. I believe in the organization's strong commitment to empowering underprivileged communities and its mission to provide comprehensive financial solutions and propel financial inclusion across the nation. My core strength lies in my ability to drive business development and growth while applying strong governance and controls. I look forward to leveraging my experience and expertise to contribute to the Company's continued growth and success, as we strive to make a positive impact on the lives of millions of individuals and businesses in the MSME sector."

As per regulations, Mr. Khanna's appointment as CEO is in the process (subject to regulatory approvals), while Mr. Sumit Mukherjee, the current CEO will move on after his handover.

Satin Creditcare Network Limited (SCNL) is confident that Mr. Khanna's leadership and vision will further strengthen the Company's position in the MSME segment and reinforce its commitment to serving the financial needs of the underserved and unbanked population.

Shares of Satin Creditcare Network Limited was last trading in BSE at Rs. 187.95 as compared to the previous close of Rs. 189.25. The total number of shares traded during the day was 77863 in over 1225 trades.

The stock hit an intraday high of Rs. 194.45 and intraday low of 185.90. The net turnover during the day was Rs. 14826649.00.

Source : Equity Bulls

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