SBI Cards, the 60:40 joint venture between State Bank of India and GE Capital, has a new CEO. Abhay Singh, who used to be chief general manager of SBI’s Mumbai circle, has taken over from Diwakar Gupta.
Gupta will be moving to SBI’s Mumbai office as a deputy managing director, although he hasn’t been allocated a department yet.
Before taking over as CEO of SBI Cards last year, Gupta was chief general manager of the SBI associate, State Bank of Patiala.
He took over at a time when SBI Cards was reeling from losses and SBI assumed management control of the joint venture. Gupta is credited with reducing losses and bringing stability to the credit card issuer’s business.
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