RBL Bank gains after board OKs re-appointment of Vishwavir Ahuja as MD, CEO

RBL Bank rose 2.82% to Rs 251.25 after the bank said its board approved the re-appointment of Vishwavir Ahuja as the managing director & chief executive officer for three years.

In a regulatory filing made post market hours on Monday, the private lender said that the nomination and remuneration committee of the board had approved the re-appointment of Vishwavir Ahuja as the managing director & chief executive officer of the bank for a period of three years, with effect from 30 June 2021 to 29 June 2024.

The bank has recommended the same to the Reserve Bank of India and the appointment shall be subject to their approval.

Vishwavir Ahuja has been the managing director & CEO of RBL Bank since 30 June 2010. Prior to joining RBL Bank, he was the managing director & CEO of Bank of America, India from 2001 to 2009.

RBL Bank is a private sector bank. Its net profit surged 165% to Rs 144 crore in Q2 September 2020 from Rs 54 crore in Q2 September 2019. Total income during the quarter declined by 1.3% year-on-year (YoY) to Rs 2533.47 crore.

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