The next CCO of Equitas Small Finance Bank is Ashwini Biswal

13 Dec 2023 , 03:01 PM

On December 12, Equitas Small Finance Bank stated that Ashwini Biswal, a senior manager, will take over as the bank’s new chief compliance officer (CCO).

In an exchange filing, the microfinance lender stated that Biswal will assume the position for a period of five years starting on January 28, 2024.

‘…the Board of Directors of the Bank at its meeting held today i.e., December 12, 2023, has inter-alia considered and approved the appointment of Ashwini Biswal as Chief Compliance Officer of the Bank,’ according to the regulatory filing.

Srinivasan Krishnamurthy Purohit, whose term as CCO ends on January 27, will be replaced by Biswal. The bank stated that after his term ended, he would be given a new charge.

Notably, Biswal is currently a senior vice president grade employee and has been with Equitas since April 2017.

The seasoned professional has worked in the banking business for more than 18 years in the capacities of audit, compliance, operations, and quality assurance.

Notably, Equitas announced a net profit of Rs 198 crore for the second quarter of the fiscal year 2023–24, a 70% increase over the same period the previous year. The net interest income of the private lender with its headquarters in Chennai increased by 25% year over year to Rs 765.6 crore.

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