Stock Report

RBI approves re-appointment of MD and CEO of ESAF Small Finance Bank Ltd

Posted On : 2024-07-17 11:39:27( TIMEZONE : IST )

The Reserve Bank of India vide letter DoR. GOV. No. S2250 / 29.44.005 / 2024-2025 dated July 16, 2024, has conveyed its approval for the re-appointment of Shri. Kadambelil Paul Thomas (DIN: 00199925) as the Managing Director & CEO of the Bank for a period of three (3) years with effect from October 01, 2024.

The Bank will seek approval of the shareholders for the said appointment within the prescribed period as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations.

Shri. Kadambelil Paul Thomas, Managing Director and Chief Executive Officer of ESAF Small Finance Bank Limited has got more than 30 years of experience in financial services. Under his leadership, ESAF Small Finance Bank Limited has grown into one of the leading financial institutions, with over 750 banking outlets across 23 states and 2 union territories, serving over 8 million customers. He has received numerous accolades and recognition for his contributions including the SKOCH Award for Financial Inclusion, Karma Ratna Award for exemplary contributions to Kerala society, Entrepreneur of the Year Award by TIE, Kerala, and the CEO with the HR Orientation Award at World HRD Congress 2022.

Previously, he was the Chairman and Managing Director of ESAF Financial Holdings Private Limited. He has also served as the Founder Secretary cum Honorary Executive Director of ESAF Foundation (previously known as Evangelical Social Action Forum) for over 26 years.

He holds a Master's degree in Business Administration from Annamalai University.

Shares of ESAF Small Finance Bank Limited was last trading in BSE at Rs. 51.68 as compared to the previous close of Rs. 51.91. The total number of shares traded during the day was 81361 in over 1150 trades.

The stock hit an intraday high of Rs. 52.25 and intraday low of 51.50. The net turnover during the day was Rs. 4206738.00.