Cholamandalam Investment appoints Ajay Bhatia as chief risk officer

Cholamandalam Investment and Finance Company said that it's board has appointed Ajay Bhatia as the chief risk officer for a period of 3 years with effect from 1 April 2023.

Ajay Bhatia's educational qualification includes a bachelor in commerce and a bachelor in law with over 28 years of experience in varied fields like credit risk management, underwriting, portfolio analysis, audit and regulatory compliance and product development. He has been with the company for the last 20 years and as head credit and compliance for the last 10 years.

The current chief risk officer, Shankar Subramanian completes his term at the close of business hours on 31 March 2023.

Cholamandalam Investment & Fin. Co. is engaged in the business of providing vehicle finance, home loans and loan against property. The company's net profit rose 30.6% to Rs 684.29 crore on 32.4% jump in total income to Rs 3,375.01 crore in Q3 FY23 over Q3 FY22.

The scrip rose 0.59% to Rs 758.55 on the BSE.

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